Cairo – Mubasher: The ordinary general meeting (OGM) of Heliopolis Company for Housing and Development approved a cash dividend distribution of EGP 280.36 million or EGP 0.21 per share for fiscal year 2019/2020.

The dividends will be distributed over two payments: EGP 15.02 million or EGP 0.05 per share at the end of March 2021 and EGP 265.35 million or EGP 0.16 per share no later than June 2021, according to a bourse disclosure on Sunday.

The OGM also approved the appointment of the board of directors for a three-year term under the chairmanship of Khaled Zakareya El-Adly.

During the first quarter (Q1) of FY20/21, the company incurred net losses of EGP 41.23 million, against net profits of EGP 29.39 million in the year-ago period.