Canal Shipping Agencies announced that its shareholders had approved a surplus cash distribution of EGP 60 million to shareholders during its ordinary general meeting (OGM) held on 29 August.

The payment will be deducted from statutory reserves as of 30 June 2018, the company said in a statement to the Egyptian Exchange (EGX) on Sunday.
During fiscal year 2018/2019, the company’s net profits dropped to EGP 249.996 million, compared to EGP 271.167 million in FY17/18.

-Mubasher