Cairo – Mubasher: Egypt’s home appliance and cable producer Elsewedy Electric said it proposed the distribution of cash dividends for the year 2015 at EGP 670 million, which is nearly 200% higher the amount paid a year earlier.
The company’s FY14 dividends reached EGP 223.4 million.
Earlier on 12 January, shareholders approved a periodical distribution of EGP 223.4 million for the first nine months of 2015, Elsewedy said.
Moreover, the board recommended distributing dividends for the fourth quarter of 2015 at EGP 2 per share, totaling EGP 446.8 million.
The company’s consolidated profits for 2015 leapt 203% year-on-year to EGP 1.35 billion from EGP 445 million.
