Cairo – The ordinary general meeting (OGM) of Alexandria Mineral Oils Company (AMOC) has approved a cash dividend distribution of EGP 710.32 million, equivalent to EGP 0.55 per share to shareholders for fiscal year (FY) 2021/2022.

The distributions will be paid in two batches, according to a bourse statement on Sunday.

Valued at EGP 387.45 million or EGP 30 per share, the first batch of distributions will be paid on 20 October 2022, while the second batch, amounting to EGP 322.87 million or EGP 25 per share, will be paid on 22 February 2023.

During FY20/21, AMOC’s consolidated net profits surged by 144.3% to EGP 1.23 billion, compared with EGP 499 million in FY20/21, including minority shareholders’ rights.

The company’s sales amounted to EGP 18.4 billion in FY21/22, up from EGP 10.2 billion in the previous FY.

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