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MNHD's shareholders approve dividends, bonus issue for 2020

MNHD's shareholders approve dividends, bonus issue for 2020
Shareholders approved distributing 0.04 bonus share for every share held
Madinet Nasr Housing
MNHD
-0.60% 3.32 -0.02

Cairo – Mubasher: Madinet Nasr Housing and Development (MNHD) announced that its ordinary general meeting (OGM) approved a proposal to distribute a cash dividend of EGP 0.45 per share for 2020. 

Dividends will be paid in instalments over the course of 2021, the company said in a bourse disclosure on Thursday.

In addition, the shareholders also approved distributing 0.04 bonus share for every share held, totalling 57.6 million bonus shares valued at EGP 1 apiece.

During 2020, the urban developer achieved net profits of EGP 1 billion, slightly up from EGP 980.89 million in 2019, including minority shareholders’ rights.