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Zahraa Maadi’s shareholders approve EGP 66m dividends

Zahraa Maadi’s shareholders approve EGP 66m dividends
The distributions amount to EGP 0.50 per share
Zahraa Maadi
ZMID
-2.92% 6.64 -0.20

Cairo – Mubasher: The ordinary general meeting (OGM) of Zahraa Maadi Investment and Development approved distributing cash dividends from the retained earnings registered in the financial statements for the period ended in December 2018.

The OGM consented a cash dividend payment of EGP 66 million or EGP 0.50 per share, equivalent to 50% from the paid-up capital, according to a disclosure to the Egyptian Exchange (EGX) on Tuesday.

Zahraa Maadi will distribute the cash dividends in two instalments; the first will amount to EGP 0.25 per share and will be due by the end of December 2019, whereas the second, due by the end of February 2020, will total EGP 0.25 per share.

It is worth noting that during the first nine months of 2019, Zahraa Maadi’s net profits increased to EGP 110.2 million when compared to EGP 87.17 million in the same period in 2018.