Cairo – Mubasher: The ordinary general meeting (OGM) of Egyptian Satellites Co (Nilesat) approved distributing 11% of capital as cash dividends for fiscal year 2016.
The company will pay 55 cents to the entitled shareholders as dividends for FY16, according to a bourse statement issued on Sunday.
The overall value of the approved dividends stands at $20.5 million, while a profit worth $243.7 million has been retained to next year.
During FY16, the company’s earnings shrank by 19.9% to $73.32 million from $91.53 million in FY15.
