Cairo – Mubasher: El Sewedy Electric will hold an ordinary general meeting on 12 January to discuss a proposal for paying EGP 223.42 million in cash dividends at EGP1 per share, the company said in a bourse filing Sunday.
Shareholders will also look into the board’s report on business activity for the first nine months of 2015 and endorse the financial statements for the same period.
Meanwhile, an extraordinary general meeting will be held on the same day to endorse a contract concluded between the company and Arab Banking Corporation - Egypt (ABC), as regards the selling of a land plot in the Fifth Settlement.
El Sewedy earlier posted a 230.7% surge in consolidated net profit for the first nine months of 2015 to EGP 1.1 billion, taking into account minority interest, up from EGP 333.9 million in the prior-year period.
