Cairo – Mubasher: The extraordinary general meeting (EGM) of Elsewedy Electric has approved to split the nominal value of the share to EGP 1, instead of EGP 10.
The ordinary general meeting (OGM) approved the distribution of EGP 1.74 billion in cash dividends, or EGP 8 per share, for the first half of 2017, the company added in a filing to the Egyptian Exchange (EGX) on Wednesday.
Egyptian cable maker's board had previously approved to split the nominal value of the share to EGP 1 from EGP 10.
Elsewedy Electric’s capital amounts to EGP 2.18 billion distributed over 218 million shares at a par value of EGP 10 per share.
