Cairo – Mubasher: Elsewedy Electric announced Thursday that the ordinary general meeting approved paying out EGP4 as cash dividends for the fiscal year ended on 30 September 2016, totaling EGP 873.1 million, according to a bourse filing.
The company clarified that distributable profits stand at EGP 1 billion approximately.
Elsewedy’s Q3 net profits jumped 153% year-on-year to EGP 746.6 million from EGP 295.34 million, while net profit for the first nine months leapt 122.2% year-on-year to EGP 2.4 billion
