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Zahraa Maadi Investment general assemblies okay profit distribution

Zahraa Maadi Investment general assemblies okay profit distribution

ArabFinance: Zahraa Maadi Investment and Development (ZMID) declared in a statement sent to EGX, the ordinary and extraordinary general assemblies meetings were held on March 24.

The OGM approved the financial results for the fiscal period ending December 31, 2018, as well as the distribution of 33.33% of paid capital by 0.33 free stock per every existing one held, in addition to cash dividends of EGP 0.50 per share with a total amount of EGP 49.50 million, represents 50% paid capital. The cash dividends will be disbursed into two equal tranches; the first tranche will be on June 30, 2019, and the second one will be on September 30, 2019. 

The EGM approved articles 20 and 52 from articles of association. 

 

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