Cairo – Mubasher: The Egyptian Chemical Industries (Kima) announced that its shareholders decided to retain the company’s profits of fiscal year 2018/2019 during an ordinary general meeting (OGM).

Accordingly, the company’s shareholders decided not to distribute cash dividends for FY18/19, according to a statement to the Egyptian Exchange (EGX) on Monday.

Previously, the company’s board of directors proposed a cash dividend distribution of EGP 0.00851 apiece to shareholders for FY18/19. 

It is worth mentioning that Kima’s net profits, after taxes, plunged to EGP 32.33 million in FY18/19 from EGP 100.05 million a year earlier.