Cairo – Mubasher: Al Ezz Dekheila Steel – Alexandria on Tuesday said that its board of directors proposed the distribution of EGP 534.5 million dividends to shareholders for the third quarter of 2018 at EGP 40 per share.
This proposal will raise cash dividend distributions to around EGP 1.6 billion for the first nine months of the year, the company said in a filing to the Egyptian Exchange (EGX) on Tuesday.
The company plans to retain about EGP 680.4 million of profits for the next year.
Earlier this day, Al Ezz Dekheila Steel posted a 316% year-on-year hike in its consolidated profits for the first nine months of 2018.
Net profit amounted to EGP 996.5 million from January to September, compared to EGP 239.5 billion the year-ago period.
Sales grew to EGP 30.9 billion at the end of September, versus EGP 24.3 million in the corresponding nine-month period of 2017.
