Cairo – Mubasher: The board of directors of Suez Canal Company for Technology Settling recommended a cash dividend distribution of EGP 2.5 per share for fiscal year 2018/2019.

Dividends will be distributed over two payments: EGP 45.45 million and EGP 181.8 million, the company said in a statement to the Egyptian Exchange (EGX) on Tuesday.

In addition, an amount of EGP 325.92 million is proposed to be retained, the statement showed.

The company’s capital stands at EGP 909 million, distributed over 90.9 million shares at a nominal value of EGP 10 per share.

During FY18/19 that ended 31 August, the company’s profits surged to EGP 476.6 million, compared to EGP 55.7 million in FY17/18.