Cairo – Mubasher: The board members of Elsewedy Electric Co has recommended a cash dividend of EGP 8 per share for the fiscal year 2017.
The Egypt-listed firm proposed paying a total of EGP 1.74 billion to the entitled shareholders, while an amount of EGP 501.3 million will be withheld to the fiscal year 2018.
During FY17, the cable maker achieved a growth of 64% in profits to EGP 6.4 billion from EGP 3.9 billion in FY16.
It is worth noting that Elsewedy’s capital stands at EGP 2.18 billion distributed on 218.4 million shares at a par value of EGP 10 per share.
