Cairo – Mubasher: The board members of Sixth of October for Development and Investment (SODIC) have recommended distributing EGP 0.5 per share as a cash dividend for fiscal year 2018.

The proposed cash dividends have a value of EGP 45 million, according to a bourse disclosure on Thursday.

SODIC has announced a decline of 24.7% in profits to EGP 450.9 million in FY18 from EGP 598.6 million in FY17.

Revenues totalled EGP 3.7 billion in 2018, higher than EGP 2.29 billion in 2017.

The standalone business of SODIC registered a loss of EGP 193.4 million in FY18 against a profit of EGP 154.25 million in the prior year.