Cairo - Mubasher: The ordinary general meeting (OGM) of Zahraa Maadi Investment and Development approved the distribution of cash dividends to shareholders for 2016 at EGP 2 per share, plus 1 bonus shares for every 5 original shares.
The company said in a statement to the Egyptian Exchange (EGX) on Monday that the OGM approved dividends totalling EGP 110 million, representing 200% of capital, and that it will be paid in two instalments, the first in next April, and the second in August 2017.
It was also approved to raise the company’s issued capital by 20% or EGP 11 million from EGP 55 million to EGP 66 million, financed through the profits of 2016, while authorized capital was increased from EGP 75 million to EGP 300 million.
