Cairo – Mubasher: The ordinary general meeting (OGM) of National Company for Maize Products decreased cash dividend distribution to EGP0.50 from EGP1.85 per share.
The total payout for 2015 is thus EGP14.7 million, compared to EGP65.6 million last year, the company said in a bourse filing.
Earlier, the board recommended distributing dividends at EGP1.85 a share, totaling EGP54.7 million, but the ordinary meeting reduced the proposed amount.
In 2015 as well, the company gained EGP70 million, compared to EGP83.7 million in 2014.
At 11:10 Cairo time, the stock fell 9.5% to EGP13.6 per share.
