Egypt: Misr Cement increases cash dividends for 2022

The ordinary general meeting (OGM) of Misr Cement – Qena agreed to pay out a cash dividend of EGP 0.75 per share for 2022, instead of EGP 0.50 per share.

The distributable net profits amounted to EGP 72.26 million as of 31 December 2022, according to a bourse disclosure.

Meanwhile, the shareholders greenlighted the dividends distribution on 30 March 2023.

Last year, the EGX-listed firm logged consolidated net profits after tax worth EGP 131.61 million, lower than EGP 173.89 million in 2021, including minority interest.

The sales jumped to EGP 2.81 billion in 2022 from EGP 2.52 billion a year earlier, while the total assets enlarged to EGP 4.43 billion from EGP 3.73 billion.