EFG Hermes’s ordinary general meeting (OGM) has approved a cash dividend distribution of EGP 499.6 million or EGP 0.65 per share to shareholders for the fiscal year ended 31 December 2018.
The OGM has also endorsed the previous-year financial statements, in addition to the board’s and audits reports on FY18 business, the leading investment bank said in a statement to the Egyptian Exchange (EGX) on Monday.
Meanwhile, the extraordinary general meeting (EGM) has agreed to amend articles 38 and 49 of the company’s articles of association.
The general assembly also nodded to add an article regarding the motivation and reward system in the company.
During the full-year ended 31 December 2018, EFG Hermes logged a net profit of EGP 1.05 billion, versus EGP 1.24 billion in 2017, including minority shareholders’ rights.