Cairo – Mubasher: Pharos Holding Research on Wednesday gave the recommendation ‘buy’ for shares of Egypt Kuwait Holding (EK Holding) at $0.70, up 71.5% from the stock’s current price of $0.41.
EK Holding is expected to report profits of $60-65 million in 2016, which is likely to increase dividends from 2.5 cents per share in 2015 to 3 cents per share in 2016, the research firm said in a note, adding that the profit.
EK Holding’s ordinary general meeting (OGM) approved in mid-March a dividend payout of 2.5 cents per share, totalling $24.3 million.
The company posted a net profit of $36.3 million in 2015, against losses of $95.4 million in 2014.
