Cairo – Mubasher: The board of directors of Abu Qir Fertilizers recommended a cash dividend distribution of EGP 1.1 per share for fiscal year 2018/2019.

Dividends are proposed to be distributed over two tranches: EGP 0.30 on 24 October and EGP 0.80 on 31 December, the company said in a statement to the Egyptian Exchange (EGX) on Sunday.

During FY18/19, Abu Qir Fertilizers logged a net profit of EGP 3.15 billion, rising by 30% year-on-year from EGP 2.4 billion.

Sales increased to EGP 8.5 billion in the twelve-month period ended 30 June from EGP 7.55 billion in the year-ago period.