Egypt - Mohandes Ins. proposes EGP 0.50/shr dividend for FY19/20
Friday, 09 11 2020, Category: Insurance and Reinsurance, Country: Egypt
The board of directors of Mohandes Insurance recommended a cash dividend distribution of EGP 0.50 per share for fiscal year 2019/2020.
The proposal includes dividends of EGP 30 million to shareholders, in addition to distributing EGP 16.5 million to the company's employees, according to a bourse disclosure on Wednesday.
The board also recommended retained earnings of EGP 52.96 million for FY20/21.
During FY19/20, the insurer logged net profits of EGP 149.56 million, slightly up from EGP 144.96 million a year earlier, including minority shareholders’ rights.