Egypt Gas’ shareholders approve 2022 dividends, capital hike

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Revenues enlarged by 30%

Staff Writer, Mubasher

March 21, 2023

PHOTO

The shareholders of Egypt Gas greenlighted the payment of EGP 1.25 per share as cash dividends for 2022, according to a bourse disclosure.

During the extraordinary general meeting (EGM) that was held on 18 March 2023, the shareholders also agreed to increase the company’s authorised capital to EGP 2 billion from EGP 1 billion.

In 2022, the Tadawul-listed firm generated net profits after tax worth EGP 301.18 million, an 82% year-on-year (YoY) hike from EGP 165.82 million.

Revenues enlarged by 30% to EGP 7.02 billion last year from EGP 5.40 billion in 2021, while the earnings per share (EPS) increased to EGP 1 from EGP 1.50.

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