Egypt: Minapharm Pharmaceuticals’ shareholders nod to 2022 dividends

The shareholders of Minapharm Pharmaceuticals greenlighted a cash dividend distribution worth EGP 2.80 per share for 2022.

The ordinary general meeting (OGM) approved the announced dividends on 26 April 2023, according to a bourse disclosure.

The total distributable profits amounted to EGP 337.12 million as of 31 December 2022.

Minapharm Pharmaceuticals generated consolidated net profits after tax worth EGP 630.89 million last year, up from EGP 474.86 million in 2021, including minority interest.

Revenues climbed to EGP 3.62 billion in 2022 from EGP 3 billion a year earlier, while the basic and diluted earnings per share (EPS) hiked to EGP 51.41 from EGP 36.42.

Last March, the EGX-listed firm’s board members recommended EGP 602.98 million capital raise through bonus shares in order to foster the company’s financial position.