Egypt - Mohandes Insurance's board proposes 33.3 piasters/shr dividend
Tuesday, 10 13 2020, Category: Insurance and Reinsurance, Country: Egypt
The board of directors of Mohandes Insurance approved the amended cash dividend distribution for fiscal year 2019/2020 after taking into account the instructions of the Financial Regulatory Authority (FRA).
The proposed cash dividends amount to EGP 33.3 piasters per share at a total value of EG 25 million, according to a bourse disclosure on Monday.
Earlier, the company announced a capital increase to EGP 187.5 million from EGP 150 million through a bonus issue, raising the number of shares to 75 million from 60 million.
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.