Cairo – Mubasher: Credit Agricole Bank on Sunday said its ordinary general meeting (OGM) has approved the recommendation to distribute dividends for 2016 at EGP 1.84 per share.
Shareholders registered at the end of trading on 23 April will be entitled to the dividends, which will commence on 27 April, the bank said in a filing to the Egyptian Exchange (EGX).
The OGM also approved the board's report on the bank's activities for the fiscal year ended on 31 December 2016, as well as the auditor's report and the financial statements for the period.
The OGM also approved the recommendation pertaining to the sum paid to board members for attending board meetings, including EUR 6,875 for the non-executive chairman, and EUR 3,437 for each board member for attending each meeting in 2017 with a minimum of six meetings during the year.
Shareholders also allocated a maximum of EGP 11.5 million in donations for 2017 under Credit Agricole's charity organisation.
The EGX-listed bank last reported a 37.3% rise in its net profits in the fourth quarter of 2016 to EGP 397 million.
