Cairo – Mubasher: Modern Waterproofing’s (Bitumode) general assembly has approved a cash dividend distribution of EGP 22.9 million or EGP 0.10 per share to shareholders for fiscal year 2018.

The general assembly has also endorsed dividend payments to employees in accordance with the company’s terms and laws, Bitumode said in a statement to the Egyptian Exchange (EGX) on Monday.

Moreover, the assembly has also approved the board’s and audits reports for business in 2018, as well as endorsed the company’s financial statements for fiscal year ended 31 December 2018.

It is worth noting that Bitumode had achieved standalone profits of EGP 39.31 million in 2018, versus EGO 20.64 million in 2017.