Cairo – Mubasher: The ordinary general meeting of Egypt’s real estate developer Talaat Moustafa Group Holding agreed to pay out 2015 cash dividends at EGP0.145 a share, totaling EGP300 million.
The dividends will be distributed on two equal installments at EGP0.07 per share roughly, due on 15 May and 15 July respectivley.
The ordinary meeting also approved financial statements, discharged board members from liability for the fiscal year 2015, and gave the green light to entering into compensation contract in 2016 as well as to renewing 2015 contracts.
The company earlier reported an increase in 2015 consolidated profits by 12% year-on-year to EGP762 million ($97 million) from EGP682 million ($87 million).
