Cairo – Mubasher: The ordinary general meeting (OGM) of Paint and Chemicals Industries (Pachin) approved a cash dividend distribution of EGP 1.75 per share for the earnings of fiscal year 2018/2019.

Dividends will be distributed in two tranches; the first amounts to EGP 1 per share and will be disbursed in January 2020 and the second stands at EGP 0.75 per share and will be paid in April 2020, the company said in a statement to the Egyptian Exchange (EGX) on Monday.

The company’s shareholders approved cash dividends of EGP 42 million for the last fiscal year, compared to EGP 72 million in FY17/18.

It is worth mentioning that during FY18/19, Pachin reported a net profit of EGP 16.77 million, down from EGP 93.08 million a year earlier.