Ramallah, Palestine - Chairman and CEO of Arab Palestinian Investment Company (APIC) Tarek Aggad announced that the group achieved net profits after tax of USD 10.2 million in the first half of 2019, a growth of 26.7% year on year, while net profits attributed to APIC shareholders amounted to USD 8.3 million in the first half of 2019, a growth of 46.4% year on year. Revenues grew by 12.8% compared to the same period in 2018 and amounted to USD 391.4 million in the first half of 2019.
Increasing APIC's paid-in capital to USD 87.5 million
Aggad added that APIC increased its paid-in capital to reach USD 87.5 million by distributing 5.5 million in bonus shares to its shareholders, representing 6.7% at par. APIC also distributed USD 5 million as cash dividends, representing 6.1% at par. Accordingly, total dividend payout amounted to USD 10.5 million, representing 12.8%.