Cairo – Mubasher: The ordinary general meeting (OGM) of Maridive and Oil Services has approved the board’s proposal of distributing cash dividends of $2.15 million to shareholders for fiscal year 2018.
The OGM has agreed to use 5% or $107,700 of the company’s legal reserve and add the remaining $2.04 million to retained profits, Maridive said in a statement to the Egyptian Exchange (EGX) on Sunday.
Furthermore, the OGM has approved FY18 financial statements and the board’s report on the company’s business for the same year, in addition to clearing off the board’s responsibility for this period.
Meanwhile, the extraordinary general meeting (EGM) has endorsed the amendment of article 21 of the company’s article of association to approve the cumulative voting in the board’s election, according to the statement.
In the full-year ended 31 December 2018, Maridive posted a net consolidated profit of $14.002 million, versus $23.49 million a year ago.
Earlier this day, Maridive announced it had been awarded a new contract worth $27 million in Mexico through one of its subsidiaries, upon which would provide $12 million navigation services and $15 million additional work.
Upon the contract, the Egyptian firm would offer various navigation support services, diving services, and remotely operated underwater vehicle (ROV) services to one of its clients in the Latin country.
