ArabFinance: Madinet Nasr Housing and Development (MNHD) declared cash dividends of EGP 0.45 per share payable in two installments.

The first installment amounts to EGP 0.15, payable on May 6th.

The second installment amounts to EGP 0.30, payable on October 10th.

Shareholders recorded as of April 28th, are entitled to cash dividends distribution.

MNHD obtained the Financial Regulatory Authoritys approval to increase the issued capital to EGP 1.49 billion from EGP 1.44 billion.

On a yearly basis, the companys consolidated net profit leveled up 2% to EGP 1 billion in 2020.

MNHD is an Egypt-based real estate development company that is engaged in activities related to the development of land, buildings, and facilities, including the acquisition of lands as well as real estate sales and rentals. This is in addition to providing all types of facilities for reconstruction in Nasr City and other areas nationwide.

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