Cairo – Mubasher: Egyptian Chemical Industries (Kima) said Wednesday that the extraordinary general meeting approved withholding its cash dividend distribution for the fiscal year 2015/16.
The EGP 76.7 million dividend retention will be directed for increasing the company’s capital through bonus share distribution, according to a bourse filing on Wednesday.
During the fiscal year 2015/16, the company earned EGP 100.5 million, which is higher 29% year-on-year from EGP 86.51 million.
Last month, the board of directors agreed on hiking its issued capital to EGP 2.89 billion from EGP 2.03 billion
