Cairo – Mubasher: The ordinary general meeting (OGM) of Zahraa Maadi Investment and Development approved a decision to distribute dividends for 2019.
The company’s shareholders agreed to distribute bonus shares valued at 100% of the company’s paid-up capital through issuing one bonus share for every share held, according to a bourse disclosure on Tuesday.
The OGM also approved a cash dividend distribution of EGP 0.75 per share at a total value of EGP 99 million, representing 75% of the company’s paid-up capital.
Cash dividends will be distributed in three equal payments at the end of June, September, and December.
Moreover, the shareholders approved a decision to increase the company’s issued and paid-up capital by EGP 132 million to EGP 264 million through a bonus issue.
It is worth mentioning that during 2019, Zahraa Maadi reported net profits of EGP 177.08 million, up from EGP 152.56 million in 2018.
