Cairo – Mubasher: The ordinary general meeting (OGM) of Eastern Co approved a cash dividend distribution of EGP 1 per share for fiscal year 2018/2019.

An amount of EGP 0.40 per share of the cash dividend will be postponed for three months to be paid in January 2020, according to a filing to the Egyptian Exchange (EGX) on Thursday.

An amount of EGP 225 million will be allocated as a dividend share to the company’s employees.

In September, the company’s board of directors recommended distributing dividends of EGP 2.25 billion to shareholders for the last fiscal year.

The company’s capital stands at EGP 2.25 billion, distributed over EGP 2.25 billion shares at a nominal value of EGP 1 apiece.

 The Egyptian tobacco manufacturer logged a net profit of EGP 3.73 billion in fiscal year FY18/19, compared to EGP 4.240 billion in the prior fiscal year.