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Arab Moltaqa approves FY19 dividends

Arab Moltaqa approves FY19 dividends
The distribution will be paid through two tranches
Arab Moltaqa Investments
AMIA
-2.79% 2.79 -0.08

Cairo – Mubasher: The ordinary and extraordinary general meeting of Arab Moltaqa Investments approved the proposed cash dividend of EGP 60 million to shareholders for the fiscal year (FY) 2019.

The dividends will be distributed at EGP 2 per share, according to a disclosure to the Egyptian Exchange (EGX) on Tuesday.

The distribution will be paid through two tranches, EGP 15 million and EGP 45 million.

It is worth pinpointing that in 2019, the company’s net profits grew by 48% year-on-year (YoY) to EGP 60 million from EGP 40.48 million in 2018, including minority shareholders’ rights.