Mubasher: The ordinary general meeting (OGM) of Egypt Kuwait Holding (EKH), listed on the Egyptian Exchange (EGX) and Boursa Kuwait, approved the proposed cash dividend distribution of six cents per share or 24% of the share’s nominal value for the fiscal year (FY) 2019.

The distribution was calculated after excluding the remaining quota of the incentive programme stocks and the treasury stock balance, according to a bourse statement on Sunday.

Moreover, the assembly approved the board’s report and the financial statements for 2019, discharged the board from liability and approved not to distribute remuneration to its members.

In 2019, the dual-listed company’s net profits surged by 21.5% year-on-year (YoY) to $115.6 million from $95.11 million in 2018, including minority shareholders’ rights.

Meanwhile, revenues rose to $523.94 million in 2019, compared to $461.98 million in the previous year.