Cairo – Mubasher: The board of directors of Arabian Cement Co. recommended a cash dividend distribution of EGP 0.47 per share for earnings of 2018.

The board proposed to distribute a total cash dividend of EGP 178 million to shareholders for the twelve-month period ended 31 December 2018, the company said in a statement to the Egyptian Exchange (EGX) on Tuesday.

The proposed dividends are pending the approval of shareholders who will hold a general assembly in the beginning of December.

It is noteworthy that during 2018, the cement producer logged a net profit of EGP 231.6 million, up from EGP 215.6 million a year earlier, including minority shareholders’ rights.