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Madinet Nasr Housing's profits decrease in 2019, proposes dividend

Madinet Nasr Housing's profits decrease in 2019, proposes dividend

ArabFinance:  Madinet Nasr Housing (MNHD) posted a consolidated net profit of EGP 1,000,995,614, considering the minority rights, for the fiscal year ending Dec. 2019, down from EGP 1,110,376,648 in the previous year.

The company sent the financial results for the Egyptian Stock Exchange, which reveal posting a standalone profit of EGP 934,889,256, decreasing from EGP 1,069,653,619 in FY 2018.

The company's board proposed on Feb. 02, 2020 distributing a cash dividend of EGP 648 million, at EGP 0.45 per share, from 2019 profits. The dividend will be disbursed in installments during 2020. 

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