Cairo – Mubasher: Oriental Weavers Carpet on Wednesday announced its ordinary general meeting (OGM) has approved a cash dividend of EGP 1.5 per share to shareholders for fiscal year 2018.
The OGM has also endorsed 2018 financial statements, as well as the board’s and audit’s reports on the company’s business last year, according to a statement to the Egyptian Exchange (EGX).
Meanwhile, the extraordinary general meeting (EGM) has agreed to amend article 22 of the company’s articles of association.
In February, the company’s board approved to raise issued and paid-up capital to EGP 665.1 million from EGP 443.4 million distributed over 221.7 million shares at a nominal value of EGP 1 per share.
Oriental Weavers previously reported consolidated profits of EGP 550.23 million for FY18, versus EGP 741.7 million in 2017, including minority shareholders’ rights.
