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Domty's board proposes cash dividends for 2020, authorised capital reduction

Domty's board proposes cash dividends for 2020, authorised capital reduction
The board proposed distributing total cash dividends of EGP 56.52 million
Domty
DOMT
0.73% 4.14 0.03

Cairo – Mubasher: The board of directors of the Arabian Food Industries Co (Domty) recommended a cash dividend distribution of EGP 0.20 per share at a total value of EGP 56.52 million for 2020’s earnings.

The board also proposed distributing a profit-share bonus of EGP 14.34 million to employees and a board remuneration worth EGP 7.525 million, Domty said in a bourse disclosure on Tuesday.

It also referred a decision to reduce the authorised capital to EGP 282.6 million from EGP 500 million to the extraordinary general meeting (EGM) for approval.  

Over the course of 2020, Domty posted consolidated net profits of EGP 157.97 million, slightly up from EGP 156.16 million a year earlier, including minority shareholders’ rights.