Cairo – Mubasher: Madinet Nasr Housing and Development Company said Thursday that its ordinary general meeting (OGM) has approved to distribute cash dividends of 30 piasters per share for fiscal year 2016, totalling 150 million.
The OGM also agreed on distributing bonus shares worth EGP 500 million (1 bonus share for each ordinary share) for the year, according to a bourse filing.
It also adopted the board and auditor’s report on the year ended on 31 December 2016.
On another note, the company’s extraordinary general meeting (EGM) has approved to transfer part of the capital to global depository receipts (GDR).
Furthermore, the EGM has agreed to raise the authorised capital to EGP 5 billion and the issued capital to EGP 500 million.
