Cairo – Mubasher: The board of Upper Egypt Flour Mills recommended a cash dividend distribution of EGP 70 million or EGP 10 per share for fiscal year 2019/2020.

The proposal will be referred to the company’s shareholders for approval, according to a bourse disclosure on Wednesday.

During FY19/20, the company’s standalone net profits reached EGP 133.33 million, down from EGP 159.4 million a year earlier.