Alexandria Pharmaceuticals and Chemical Industries announced that its shareholders approved a cash dividend distribution of EGP 11.2 per share for fiscal year 2018/2019 during an ordinary general meeting (OGM).
The company’s shareholders ratified the distribution of EGP 22.18 million as a profit share to the company’s employees and the allocation of statutory reserves at 10% of the company’s profits for FY18/19, according to a statement to the Egyptian Exchange (EGX) on Sunday.
The company clarified that shareholders agreed to raise the cash dividend to EGP 11.2 per share from the proposed EGP 9 a share, raising the total value of dividends to EGP 56 million.
It is noteworthy that the company’s capital stands at EGP 50 million, distributed over 5 million shares at a nominal value of EGP 10 apiece.
During FY18/19, Alexandria Pharmaceuticals and Chemical Industries logged a net profit of EGP 112.8 million, compared to EGP 118.2 million in the prior fiscal year.