Cairo – Mubasher: The ordinary general meeting (OGM) of North Cairo Mills approved the proposed cash dividend distribution for fiscal year 2019/2020.

The shareholders approved the distribution of EGP 5.35 million or EGP 0.50 per share as cash dividends, according to a bourse disclosure on Monday.

In addition, the company’s extraordinary general meeting (EGM) approved the sale of three depreciated production lines.

During FY19/20, the company logged net profits of EGP 17.09 million, down from EGP 27.02 million a year earlier.