ArabFinance: The Egyptian Exchange (EGX) has set the limit down of Paints and Chemical Industries (Pachin Paints) at 14.559%, according to the EGX’s January 24th filing.
The circuit breaker of the company’s stock is also set at a limit down level of 9.813%, the EGX disclosure added.
The stocks’ price movement limits will be effective as of the closing session of the ex-dividend date on January 24th.
The EGX’s decision came after the company’s announcement of distributing cash dividends of EGP 1 per share.
Pachin Paints will distribute cash dividends of EGP 1 per share on two equal tranches, the statement highlighted.
Paints and Chemical Industries Company (PACHIN) is an Egypt-based public shareholding company engaged in the production, marketing and distribution of paints, varnishes, industrial chemicals, printing inks, animal extracts and other related products.
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