Cairo – Mubasher: Egypt Gas’ ordinary general meeting (OGM) has approved a cash dividend distribution of EGP 1 per share.
Dividends will be distributed to shareholders in a single installment or more according to liquidity volume, the general contractor of natural gas projects highlighted in a filing to the Egyptian Exchange (EGX) on Sunday.
The OGM has also endorsed 2017 financial statements and the board’s report on the company operations during the same period.
On 8 March 2018, the board of Egypt Gas recommended a cash dividend distribution of EGP 24 million for 2017, upon which dividends will be distributed over about 24 million shares, or EGP1 per share, after raising the company’s capital to EGP 240 million from EGP 120 million.
Egypt Gas’ capital before the increase amounted to EGP 120 million distributed over EGP 12 million shares at a par value of EGP 10 per share.
