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Arab Cotton Ginning not to distribute dividends for FY19/20

Arab Cotton Ginning not to distribute dividends for FY19/20
Mohsen Hassan has been appointed as a Managing Director
Arab Cotton Ginning
ACGC
0.94% 6.46 0.06

Cairo – Mubasher: The ordinary general meeting (OGM) of Arab Cotton Ginning decided not to distribute dividends for fiscal year 2019/2020.

The shareholders also approved the appointment of Mohsen Hassan as a Board Member and Managing Director, according to a bourse disclosure on Sunday.  

During FY19/20, the company reported standalone net profits of EGP 15.16 million, compared to EGP 33.73 million in FY18/19.