Cairo – Mubasher: Amer Group Holding Co’s board of director on Wednesday recommended a cash dividend distribution of EGP 1.5 per share, or total EGP 75.2 million for 2017 profits.
The board proposed distributing a first 5% stake of the company’s capital at a value of EGP 50.15 million and a second stake valued at EGP 25.07 million, the company highlighted in a filing to the Egyptian Exchange (EGX).
The board also decided to retain about EGP 155.8 million, in addition to a 5% of net profit worth around EGP 8.15 million as a legal reserve for 2017 profits.
Amer Group’s annual general meeting (AGM) will discuss cash dividend distributions for 2017 profits on 27 February 2018.
