Cairo – Mubasher: The shareholders of GlaxoSmithKline (GSK Egypt) greenlighted a cash dividend distribution valued at EGP 0.75 per share for 2022.

The EGX-listed firm will pay out the announced dividends once liquidity is available, according to a bourse filing.

It is worth highlighting that the shareholders approved the dividends proposal during the ordinary general meeting (OGM) on 3 May 2023.

Last year, GSK Egypt logged consolidated net profits after tax worth EGP 735 million, a 376% leap from EGP 155 million in the 12-month period that ended on 31 December 2021.

Revenues climbed by 79% to EGP 1.81 billion in 2022 from EGP 1.01 billion a year earlier, while the basic and diluted earnings per share (EPS) widened by 381% to EGP 8 from EGP 2.

As for the standalone business, the company’s non-consolidated profits after tax hiked by 332% year-on-year (YoY) to EGP 718 million as of 31 December 2022 from EGP 166 million.