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Orascom Construction's board nods to $0.21/shr interim dividends

Orascom Construction's board nods to $0.21/shr interim dividends
The record date for the dividend is set for 19 January 2021
Orascom Construction
OC
-5.83% 5.65 -0.35

Mubasher: The board of Orascom Construction Plc has approved to pay out interim cash dividends of $0.21 per share in January 2021.

The record date for the dividend is set for 19 January 2021, while the payment is scheduled for 26 January, according to the company's disclosure to Nasdaq Dubai and the Egyptian Exchange (EGX) on Wednesday.

The company will distribute the dividends in US dollars to the shareholders holding shares on Nasdaq Dubai and in Egyptian pounds to the shareholders holding shares on the Egyptian Exchange.

The dividends that will be paid in Egyptian pounds will be based on the USD/EGP sell exchange rate announced by the Central Bank of Egypt (CBE).

These dividends are added to the dividends of $0.21 per share, which were distributed to shareholders in August 2020, raising the total value of dividends for the fiscal year 2020 to $0.42 per share.

It is noteworthy to mention that during the first nine months of 2020, the company reported a consolidated backlog of $5.3 billion and net profits attributable to shareholders of $65 million.