Cairo – Mubasher: Faisal Islamic Bank of Egypt’s ordinary general meeting (OGM) has approved a cash dividend distribution of $0.08 per share to shareholders for 2018 after zakat deduction, as well as EGP 1.422 per share.
The OGM has also agreed to distribute bonus shares of around 20% of retained profits at 1-for-5 basis bonus shares, the bank said in a statement to the Egyptian Exchange (EGX) on Sunday.
The general assembly has endorsed 2018 financial statements and the board and audit reports, the statement added.
In February, Faisal Islamic Bank announced that its board of directors had proposed a cash dividend distribution of EGP 525.7 million to shareholders for FY18.
It is worth noting that the bank’s previously posted consolidated profits of EGP 2.5 billion for the full-year 2018, versus EGP 1.722 billion a year earlier.
