Egypt: Edita to distribute $12.9mln cash dividends for 2022

The ordinary general meeting (OGM) of Edita Food Industries greenlighted cash dividends amounting to EGP 400 million for 2022.

The shareholders granted their approval for the dividends distribution on 28 March 2023, according to a bourse filing.

Last year, Edita posted a hike in consolidated net profit after tax to EGP 1.02 billion, versus EGP 528.87 million in 2021, including non-controlling interest.

Sales widened to EGP 7.67 billion in 2022 from EGP 5.25 billion a year earlier, while the basic and diluted earnings per share (EPS) increased to EGP 1.35 from EGP 0.73.

The total consolidated assets hit EGP 5.78 billion as of 31 December 2022, higher than EGP 4.22 billion in 2021.

During the first nine months (9M) of 2022, the company’s consolidated net profits after tax reached EGP 673.77 million, an annual leap from EGP 322.73 million, including minority interest.