Egypt's Elsewedy Electric sets due date of cash dividends

Egypt - Elsewedy Electric (SWDY) announced distributing a cash dividend of EGP 2.5 per share on April 27th, according to a statement sent to the Egyptian exchange.

The shareholders were recorded on April 22nd, are entitled to cash dividends, the company said.

The company posted a net consolidated net profit of EGP 4,163,107,975 in 2019, compared to net profits of EGP 5,109,679,722 in the same period a year ago, taking into account the minority rights.

Moreover, it posted standalone net profits of EGP 2,414,827,017, compared to net profits of EGP 2,242,605,109 in the same period last year.

Elsewedy Electric is a leading provider of integrated energy solutions in Africa and the Middle East, and a significant contributor to economic growth in EGYPT. The Company has a portfolio incorporating all traditional and renewable energy areas along with related services. It is one of the largest worldwide manufacturers of cables and meters, especially smart meters.

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