Cairo – Mubasher: The board of directors of Upper Egypt Flour Mills recommended a cash dividend distribution of EGP 11 per share for fiscal year 2018/2019.

The total value of proposed dividends amounted to EGP 77 million, the company said in a statement to the Egyptian Exchange (EGX) on Wednesday.

The company’s capital reaches EGP 70 million, distributed over 7 million shares at a nominal value of EGP 10 apiece. 

During FY18/19, Upper Egypt Flour Mills logged a net profit of EGP 174.12 million, down from EGP 205.2 million in the prior fiscal year, including minority shareholders’ rights.