Cairo - Mubasher: The board of directors of South Valley Cement rejected the proposal submitted earlier by the company's shareholders in respect to distributing dividends.
Last May, the company's shareholders meeting recommended distributing bonus shares.
The board attributed its decision to the company's financial obligations and liquidity position.
The cement producer reported net profits of EGP 57.8 million in the six-month period ended June 2015, down from EGP 64.89 million a year earlier.
