ArabFinance: Palm Hills Developments (PHD) will distribute cash dividends of EGP 0.10 per share on April 25th, according to the companys filing to the Egyptian Exchange on April 7th.

The company stated the dividend will be disbursed to the shareholders recorded on April 20th.

The listed companys ordinary general assembly approved cash dividends to shareholders of EGP 304 million.

The company will cut its issued capital by EGP 72.7 million to EGP 6.16 billion from EGP 6.23 billion through canceling 36.35 million treasury stocks.

The real estate developer reported a 15% Year on Year decline in its consolidated net profit in 2020, recording EGP 717.76 million.

PHD is an Egypt-based company that focuses on real estate investment in the new cities and urban communities, land reclamation and cultivation, and other activities associated with the Companys operations.

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