Cairo – Mubasher: The ordinary general meeting (OGM) of Emaar Misr for Development approved a proposal to cancel dividends for 2020.

Some shareholders voted against the no-dividend decision as the company was profitable last year, according to a bourse disclosure on Thursday.

In 2020, Emaar Misr for Development reported consolidated net profits of EGP 1.67 billion, down from EGP 1.73 billion in 2019, including minority shareholders’ rights.