Cairo – Mubasher: Talaat Moustafa Group Holding’s (TMG Holding) ordinary general meeting (OGM) has approved a cash dividend distribution of EGP 365 million or EGP 0.176 per share to shareholders for fiscal year 2018.
The dividends will be paid to shareholders over two installments each worth EGP 0.088 per share, the company said in a statement to the Egyptian Exchange (EGX) on Sunday.
The first installment will be eligible until 15 May, while the second will be eligible on 15 July, according to the statement.
The general assembly has also endorsed 2018 financial statements and the board and audit reports, the statement added.
In February, TMG Holding reported an EGP 1.77 billion in consolidated profits for fiscal year ended 31 December 2018, versus EGP 1.32 billion in 2017.
The company’s revenues rose to EGP 10.9 billion last year, versus EGP 8.53 billion a year earlier.
Moreover, the company’s management had proposed a cash dividend of EGP 365 million or EGP 0.17 per share for 2018.
