Egypt - The board of directors of Orascom Construction PLC (ORAS) has recommended the distribution of cash dividends of $0.2313 per share to shareholders on August 24th, according to an emailed statement on July 7th.

The dividend payment proposal will be subject to the approval of the upcoming extraordinary general meeting (EGM) to be held on August 1st.

The dividends in US dollar shall be paid to shareholders owning shares on Nasdaq Dubai, and to shareholders holding shares on the Egyptian Exchange (EGX) at the record date.

The dividends in EGP will be based on the USD/EGP sell exchange rate set by the Central Bank of Egypt (CBE).

The proposed record date has been set on August 17th.

This will mark the fifth dividend payment for the fifth year in a row by Orascom Construction.

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