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Orascom Construction’s board proposes $0.2/shr dividends for 2023

Orascom Construction’s board proposes $0.2/shr dividends for 2023
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Orascom Construction
OC
1.76% 5.19 0.09

Cairo – Mubasher: Orascom Construction’s board recommended the disbursement of $0.20 per share in cash dividends for 2023.

Dividends are scheduled to be paid in August 2024, according to a bourse filing.

Shareholders in Nasdaq Dubai receive their payments in USD, while holders of the shares listed on the Egyptian Exchange (EGX) will receive the equivalent in the Egyptian pound.

It is worth noting that Orascom Construction’s consolidated profit surged 45% year-on-year (YoY) to $195.10 million in 2023 from $134.30 million.

Consolidated revenues declined to $3.36 billion last year from $4.17 billion in 2022.

The company reported a net standalone profit of $218.64 million in 2023, against a net loss of $6.70 million the year before.

During the first nine months (9M) of 2023, Orascom Construction announced a dividend distribution of EGP 5.88 per share.