Cairo – Mubasher: Union National Bank Egypt (UNB Egypt) has proposed the distribution of 60 piasters cash dividends, accounting for 10.7% of paid-up capital for fiscal year 2018 to shareholders.
The bank has recommended distributing a total dividend of EGP 158.01 million over two payments for the last year, versus a dividend of EGP 70.22 million for 2017, according to a statement to the Egyptian Exchange (EGX) on Tuesday.
On Sunday, UNB Egypt posted a 29% year-on-year plunge in net profits for fiscal year 2018, recording EGP 270.11 million, versus EGP 380.01 million.
Moreover, the lender’s revenue grew to EGP 3.69 billion last year from EGP 2.74 billion in 2017.
