Cairo – Mubasher: Al Tawfeek for Financial Lease (AT Lease) on Wednesday said its board of directors has recommended a cash dividend distribution of 25.38 piasters per share for 2018.

Moreover, the board has proposed the distribution of 0.172-for-1 basis bonus shares, the company added in a statement to the Egyptian Exchange (EGX).

The board also approved raising issued and paid-up capital to EGP 234.4 million from EGP 200 million at a nominal value of EGP 2.5 through the distribution of 0.172-for-1 basis bonus shares.

Earlier this day, AT Lease reported an 18.5% year-on-year increase in consolidated profits for 2018.

Net profit reached EGP 69.79 million last year, versus EGP 58.87 million in 2017.

Revenues rose to EGP 775.4 million in 2018 from EGP 670.55 million a year earlier.

At the level of standalone business, profits grew to EGP 69.8 million in the year ended December 2018, versus EGP 58.04 million a year earlier.