Cairo – Mubasher: The ordinary general meeting (OGM) of Mohandes Insurance approved the board’s proposal for the cash dividend distribution for fiscal year 2019/2020.
Shareholders will receive 33.3 piasters per share at a total value of EGP 25 million as cash dividends for the year ended 30 June, according to a bourse disclosure on Thursday.
The dividends will be paid over two installments: the payment of EGP 7.5 million or EGP 0.10 per share on 15 November and the payment of EGP 17.5 million or EG 23.3 piasters a share on 24 December.
The OGM also approved the appointment of Mahmoud Magdy Mohamed and Ashraf Abdel Tawab Salman as board members.
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.