Cairo – Mubasher: The ordinary general meeting (OGM) of Arabian Cement Co. approved the recommended total cash dividend distribution of EGP 178 million for the previous fiscal year 2018. 

The distribution is equivalent to EGP 0.47 per share, according to a statement to the Egyptian Exchange (EGX) on Monday.

Over the first nine months of 2019, the company saw an 85% year-on-year drop in net profit at EGP 32.9 million, compared to EGP 214.8 million in the prior-year period, including minority shareholders’ rights.

During the period from January to December 2018, the firm’s consolidated profit rose by 7.4% year-on-year to EGP 231.6 million when compared to EGP 215.6 million in 2017.