Egypt Gas Shareholders Approve Dividend Payouts

Egypt Gas Shareholders Approve Dividend Payouts

Egypt Gas’s general assembly has authorized the company to pay out dividends of EGP 1 per share, Al Mal News reported.

The company said in a statement to the Egyptian Exchange (EGX) that it may pay the dividends in several installments, depending on the company’s liquidity status at the time of payment.

Egypt Gas submitted documents to the EGX a week earlier to increase issued and paid-up capital from EGP 120 million to EGP 240 million. The company has a total of 24 million shares, with each share carrying a nominal value of EGP 10.

The company’s profits rose to EGP 25.6 million during the year ending last December, compared to EGP 24 million in 2016.

The company’s current shares rose to 24 million, the net profit recorded EGP 25.603266 million, and the market value reached EGP 2.23344 billion, according to the company’s website.

Sarah Samir 2950 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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