Cairo – Mubasher: The ordinary general meeting (OGM) of Madinet Nasr Housing and Development (MNHD) approved a proposal for cash dividends for 2019.
Shareholders agreed to distribute a cash dividend of EGP 0.45 per share over two payments on dates to be determined later, according to a statement to the Egyptian Exchange (EGX) on Wednesday.
The company’s OGM also gave the green light to a land exchange agreement with the Armed Forces Land Projects Agency, affiliated to the Ministry of Defense.
It is worth mentioning that during 2019, MNHD logged net profits of EGP 1 billion, down from EGP 1.11 billion a year earlier.
