Cairo – Mubasher: Arab Cotton Ginning’s board of directors recommended a cash dividend distribution of EGP 0.10 per share for fiscal year 2018/2019.

The proposed dividends are still pending approval of the extraordinary general meeting (EGM) scheduled to be held on 30 September, the company said in a statement to the Egyptian Exchange (EGX) on Thursday.

During FY18/19, the company’s standalone profit declined to EGP 33.73 million from EGP 89.49 million in the year-ago period.