Cairo – Mubasher: The board of Madinet Nasr Housing and Development recommended raising bonus share distribution to 0.336-to-1 from 0.333-to-1, excluding treasury shares.
On 14 February 2016, the company bought back 4 million treasury shares, which are excluded from the yearly dividends as long as the company keeps them in hand as per EGX regulation.
The company’s ordinary and extraordinary general meetings will be convened to discuss a number of items, including capital top-up to EGP500 million and the amendment of articles no. six and seven of the memorandum.
