Cairo – Mubasher: The board of directors of Egyptian Satellites Co (NileSat) recommended a cash dividend of 40 cents per share for 2020’s earnings.

The board also delegated the chairman to call for a shareholder meeting to decide on the addition of new activities after obtaining the Financial Regulatory Authority’s (FRA) approval, the company said in a bourse disclosure on Monday.

The new activities include providing services, consultations, and integrated solutions for operating satellites and launching new satellite channels.

In 2020, NileSat achieved net profits of $34.15 million, down from $42.53 million a year earlier.