Cairo – Mubasher: Obour Land for Food Industries’ ordinary general meeting (OGM) has approved the board’s proposal of paying shareholders a cash dividend of EGP 0.25 per share for fiscal year 2018.
Moreover, the OGM has agreed to distribute EGP 100 million in dividends, or EGP 0.25 per share, to shareholders for FY14 and FY18, Obour Land said in a statement to the Egyptian Exchange (EGX).
The OGM has also endorsed the company’s financial statements and the board’s business report for FY18.
The EGX-listed firms added that the OGM has agreed to release the board and renew its membership for further three years, ending on 10 September 2020.
In March, Obour Land reported EGP 236.22 million in consolidated profits for fiscal year 2018, versus EGP 243.19 million in 2017, including minority shareholders’ rights.
Meanwhile, standalone profits totalled EGP 236.22 million in 2018, versus EGP 243.25 million in 2017.
