Cairo – Mubasher: Eastern Company has recommended a cash dividend distribution of EGP 1.60 per share for fiscal year (FY) ended 30 June 2022.

The decision will be subject to the approval of the ordinary general meeting (OGM), according to a stock exchange statement on Thursday.

In FY21/22, Eastern Company achieved EGP 4.03 billion in net profit after tax and provisions, down 6% when compared to EGP 4.28 billion a year earlier.

Basic earnings per share (EPS) amounted to EGP 1.61 in FY21/22, compared to EGP 1.74 in FY20/21.

Moreover, the company’s revenue increased by 7% annually over the 12-month period ended 30 June 2022 to EGP 17.13 billion, compared with EGP 16.02 billion.