Egypt's Dice considers withholding dividend payments

The auditor will be also be consulted to take a decision which will be then referred to the next OGM for approval

  
A trader works at the Egyptian stock exchange in Cairo, Egypt September 20, 2018.

A trader works at the Egyptian stock exchange in Cairo, Egypt September 20, 2018.

REUTERS/Mohamed Abd El Ghany
Cairo –  The ordinary general meeting (OGM) of Dice Sport and Casual Wear approved a decision to withhold dividend payments until a study is conducted to assess how much liquidity is required for a dividend payout.

The auditor will be also be consulted to take a decision which will be then referred to the next OGM for approval, the company said in a bourse disclosure on Sunday.

The shareholders also decided to reshuffle its board of directors for a one-year term.

During the first nine months of 2020, Dice reported net losses of EGP 56.56 million, against net profits of EGP 125.29 million in the year-ago period, including minority shareholders’ rights.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Equities