Egypt's MM Group shareholders approve cash dividends

The Financial Regulatory Authority approved the publication of the disclosure form submitted MM Group to increase its capital

  
Traders work at the Egyptian Exchange in Cairo April 1, 2013. Image used for illustrative purpose

Traders work at the Egyptian Exchange in Cairo April 1, 2013. Image used for illustrative purpose

REUTERS/Mohamed Abd El Ghany
Egypt - MM Group for Industry and International Trade's (MM Group) (MTIE) ordinary general assembly approved annual cash dividends of EGP 0.25 per share, totaling 119.882 million, according to a statement filed to the Egyptian Exchange.

The Financial Regulatory Authority approved the publication of the disclosure form submitted MM Group to increase its capital.

On a yearly basis, the company’s consolidated net profit fell 20% to EGP 366.41 million in 2020.

MM Group is an Egypt-based company, which operates in the consumer electronics distribution and retail segment. The company operates through five divisions such as automotive and the consumer.

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