Cairo – Mubasher: The ordinary general meeting (OGM) of the Housing and Development Bank (HDB) on Sunday approved the recommendation to distribute cash dividends for fiscal year 2016 at EGP 2 per share.
The OGM also approved the financial results for 2016 and the board and auditor's reports, according to a bourse filing.
Shareholders registered at the end of trading on 24 April will be entitled to the distributions, which will begin on 27 April, HDB said.
Total dividends will amount to around EGP 253 million, according to statistics by Mubasher.
HDB last reported a consolidated profit of EGP 755 million in 2015, up 31.3% year-on-year from EGP 575 million. Standalone profits also increased 31.1% to EGP 644 million.
HDB's stock was down 0.86% to EGP 34.61 by 10:24am Cairo time.
