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Canal Shipping Agencies' OGM approves dividends for FY19/20

Canal Shipping Agencies' OGM approves dividends for FY19/20
The OGM also approved the appointment a new board of directors
Canal Shipping Agencies
CSAG
1.98% 10.94 0.21

Cairo – Mubasher: The ordinary general meeting (OGM) of Canal Shipping Agencies approved a cash dividend distribution of EGP 1.33 a share for fiscal year 2019/2020.

The shareholders approved a total of EGP 276.57 million as cash dividend to be divided into EGP 9 million in the first payment and EGP 267.55 million in the second payment, in addition to a board remuneration of EGP 25,000, the company said in a bourse disclosure on Sunday.

The OGM also approved the appointment a new board of directors for a three-year term.

During the first quarter (Q1) of FY20/21, the company achieved net profits of EGP 41.05 million, down from EGP 128.3 million in the year-ago period.