Cairo – Mubasher: The ordinary general meeting (OGM) of Fawry for Banking Technology and Electronic Payments approved the board’s proposal for dividend distribution for 2019.

The proposal includes a 0.28-for-one bonus issue to be financed from retained earnings, Fawry said in a statement to the Egyptian Exchange (EGX) on Monday.

The company’s shareholders also approved the resignation of PSI Netherlands Holding Bv represented by four board members and the appointment of four other members.

It is noteworthy to mention that in 2019, Fawry’s net profits surged to EGP 130.38 million from EGP 69.23 million in 2018.