EGX sets Eastern Company's stock limit down

ArabFinance: The Egyptian Exchange (EGX) has set the limit down of Eastern Company (EAST) at 20.26%, according to the company’s November 10^th filing.

The circuit breaker of the company’s stock is also set at a limit down the level of 15.83%, the EGX disclosure added.

The stocks’ price movement limits will be effective as of the closing session of the ex-dividend date on November 10^th.

The EGX’s decision came after the company’s announcement of distributing cash dividends of EGP 0.714945 per installment payable on November 15th and February 15th, 2021.

The company amended the sale prices of its Mondial cigarettes to average EGP 20-23. it achieved a net profit after tax of EGP 3.794 billion in the fiscal year 2019/2020, a 1.63% increase from EGP 3.733 billion achieved a year earlier.

Eastern Company is an Egypt-based company, which is engaged in manufacturing tobacco products. The company’s product portfolio includes cigarettes, cigars, pipe tobacco, and molasses tobacco, as well as other related products such as cigarettes’ filter rods and homogenized tobacco.

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