Cairo – Mubasher: The board of Orascom Construction Ltd recommended a cash dividend distribution of 26 cents per share to shareholders for 2017.
The total dividends proposed for the year ended December 2017 amounted to $30 million, according to a filing to the Egyptian Exchange (EGX) on Thursday.
Orascom Construction, which is dual-listed on the EGX and Nasdaq Dubai, also reported a 60.6% year-on-year surge in consolidated profits for the full-year 2017, recording a net profit of $85.1 million from $53 million a year earlier.
Revenues shrank to $3.6 billion last year, down from $4 billion in 2016.
Meanwhile, standalone profits retreated to $9.5 million in 2017, against losses of $31.5 million in the year before.
