Cairo – Mubasher: The ordinary general meeting (OGM) of Mohandes Insurance approved a cash dividend distribution of EGP 0.25 per share for the earnings of the fiscal year (FY) 2020/2021.

The insurer will pay EGP 23.5 million to shareholders over two equal instalments; the first one on 5 December and the second one on 6 February 2022, according to a bourse disclosure on Thursday. 

The insurer achieved consolidated net profits of EGP 124.29 million in FY20/21, down from EGP 149.56 million in FY19/20.

The insurance activity surplus retreated to EGP 136.56 million in the year ended 30 June, compared to EGP 182.41 million a year earlier.