Cairo – Mubasher: Export Development Bank of Egypt’s (EBE) board of directors recommended a cash dividend distribution of EGP 1 per share for fiscal year 2018/2019.

An amount of EGP 272.8 million is proposed to be distributed for FY18/19, compared to dividends of EGP 136.4 million for FY17/18, the lender said in a statement to the Egyptian Exchange (EGX) on Wednesday.

The bank’s capital reaches EGP 2.7 billion divided over 272.8 million shares at a nominal value of EGP 10 apiece.

EBE’s consolidated unaudited financial results for FY18/19 posted a 41% profit growth, registering EGP 1.1 billion from EGP 790.3 billion in FY17/18.