Cairo – Mubasher: Egyptian Satellites Co’s (Nilesat) ordinary general meeting (OGM) has approved a cash dividend distribution of $0.60 per share for fiscal year 2018, instead of %0.50.
Total dividend amounts to $22.3 million, accounting for 12% of paid-up capital, Egyptian Satellites said in a statement to the Egyptian Exchange (EGX) on Monday.
The company’s board previously proposed a cash dividend payment of $0.50 per share to shareholders for FY18.
The OGM has approved 2018 financial statements, as well as the board’s business and audit reports for the year.
On the other hand, the extraordinary general meeting (EGM) decided to amend articles number 7, 21, and 51 of the company’s articles of association.
Nilesat previously posted it has logged $53.46 million in profits in 2018, versus $68.57 million in 2017.
