Cairo – Mubasher: Arab Drug Co announced that its shareholders approved a cash dividend distribution of EGP 3.8 per share for fiscal year 2018/2019 during an ordinary general meeting (OGM).

The company’s OGM approved allocating EGP 9 million to the company’s employees as well as statutory reserve of 10% of the company’s profits for FY18/19, according to a statement to the Egyptian Exchange (EGX) on Sunday.

In August, Arab Drug Co’s board of directors proposed a cash dividend distribution of EGP 3 per share for FY18/19.

It is noteworthy that the company’s net profits after taxes increased to EGP 43.103 million in FY18/19, compared to EGP 39.47 million in FY17/18.