Cairo – The ordinary general meeting (OGM) of Oriental Weavers Carpet approved a proposal to distribute cash dividends of EGP 0.65 per share for 2019.

The dividends will be distributed in July, the company said in a statement to the Egyptian Exchange (EGX) on Monday.

The company’s shareholders also approved the purchase of four industrial units in 10th of Ramadan City at a combined area of 522.12 square metres for a total amount of EGP 4.46 million from Orientals for Urban Development.

It is noteworthy that in 2019, Oriental Weavers Carpet reported net profits of EGP 855 million, up from EGP 550.23 million in 2018, including minority shareholders’ rights.

Source: Mubasher

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