Cairo – Mubasher: The board of Abu Qir Fertilizers recommended a cash dividend distribution of EGP 1.1 per share to shareholders for fiscal year 2017/2018.
The dividends will be paid based on an increase in shares by 1.26 billion shares, versus EGP 10.5 per share based on 126.2 million shares before stock split last year, the Egyptian firm said in a bourse filing on Tuesday.
In October, the extraordinary general meeting of Abu Qir approved splitting the nominal value of the stock in a ratio of 1-for-10 shares.
Accordingly, the issued-capital stood at EGP 1.89 billion, distributed over 1.26 billion shares at a par value of EGP 1.5 per share.
Abu Qir previously posted a net profit of EGP 2.4 billion in FY17/18, versus EGP 2.2 billion for FY16/17.