Cairo – Mubasher: The board of directors of Oriental Weavers Carpet approved a proposal to amend the recommended cash dividends for 2019 to in response to the economic disruption caused by the novel coronavirus (COVID-19) outbreak.
The board decided to distribute cash dividends of EGP 43.23 million or EGP 0.65 per share, compared to a previously proposed dividend of EGP 1.5 a share, according to a bourse disclosure on Monday.
The decision is still subject to the approval of the ordinary general meeting (OGM) set to be held on 26 April.
For the full-year 2019, the Egyptian firm’s net profits rose to EGP 855 million from EGP 550.23 million in 2018, including minority shareholders’ rights.
