EIPICO’s shareholders approve 2022 dividends, capital increase

The shareholders of Egyptian International Pharmaceutical Industries (EIPICO) greenlighted cash dividends worth EGP 661.70 million for 2022, according to a bourse filing.

The ordinary general meeting (OGM) agreed to disburse a dividend of EGP 2 per share over two equaled instalments.

In this regard, the company will pay EGP 1 during April 2023, whereas the remaining amount will be disbursed in August.

Capital Hike

The extraordinary general meeting (EGM) of EIPICO, which was held on 1 April 2023, approved a 50% capital raise.

The EGX-listed firm will increase its issued capital by EGP 495.85 million to EGP 1.48 billion from EGP 991.70 million.

Last year, the consolidated net profits after tax of EIPICO reached EGP 643.76 million, higher than EGP 488.28 million as of 31 December 2021, including minority interest.

The sales hit EGP 3.95 billion in 2022, an annual growth from EGP 3.40 billion.