Cairo – Mubasher: The board of Eastern Co recommended a cash dividend distribution of EGP 1.40 per share for fiscal year 2019/2020.

The proposal has been referred to the company’s shareholders for approval, the tobacco manufacturer said in a bourse disclosure on Monday.

The net distributable profit reached EGP 5.28 billion in FY19/20, including EGP 3.7 billion of net profits and EGP 1.49 billion worth of retained earnings, compared to EGP 4.24 billion in FY18/19.

During FY19/20, Eastern Co logged net profits of EGP 3.794 billion, slightly up from EGP 3.733 billion a year earlier.