Cairo – Mubasher: The board of directors of Mohandes Insurance approved the amended cash dividend distribution for fiscal year 2019/2020 after taking into account the instructions of the Financial Regulatory Authority (FRA).

The proposed cash dividends amount to EGP 33.3 piasters per share at a total value of EG 25 million, according to a bourse disclosure on Monday.

Earlier, the company announced a capital increase to EGP 187.5 million from EGP 150 million through a bonus issue, raising the number of shares to 75 million from 60 million. 

During FY19/20, the insurer logged net profits of EGP 149.56 million, slightly up from EGP 144.96 million a year earlier, including minority shareholders’ rights.