Cairo – Mubasher: Housing and Development Bank (HDB) on Thursday announced that its shareholders had approved distributing a cash dividend of EGP 5 per share for 2018 during an ordinary general meeting (OGM).  

Dividends of EGP 16.7 billion will be deferred for 2020, compared to dividends worth EGP 185.4 million deferred from 2017, according to the lender’s statement to the Egyptian Exchange (EGX).

In February, HDB’s board of directors proposed distributing cash dividends of EGP 5 per share with a total value of 632.5 million for 2018.

For the full-year 2018, the Cairo-based bank reported EGP 1.6 billion in profits last year, compared to EGP 1.07 billion in 2017.

Interest income rose to EGP 6.1 billion in 2018 from EGP 4.6 billion a year earlier.