Egypt: EFIC’s board ratifies cash dividends; capital increase

Reuters/REUTERS

The dividends are set to be paid in three instalments

Staff Writer, Mubasher

April 1, 2024

PHOTO

Cairo – The board of directors of Egyptian Financial and Industrial Company (EFIC) has approved the distribution of EGP 7 per share in cash dividends for 2023.

The dividends are set to be paid in three instalments, according to a bourse filing.

The first instalment amounts to EGP 2 per share and will be paid on 30 April 2024.

The second instalment is EGP 2 per share and will be paid on 20 October.

Moreover, the third instalment equals EGP 3 per share and will be paid on 1 December.

Capital Hike

The board also nodded for increasing the issued and paid-up capital from EGP 727.66 million to EGP 1 billion.

EFIC logged a consolidated net profit of EGP 700.34 million in 2023, down from EGP 755.85 million a year earlier.

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