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Zaharaa Maadi approved stock and cash dividends

Zaharaa Maadi approved stock and cash dividends

ArabFinance:  Zahraa El Maadi Co. for Investment (ZMID) announced distributing 100% of paid-up capital.

On March 30th, the Ordinary General Meeting (OGM) approved the distribution of EGP 0.75 totaling EGP 99 million, in addition to one free stock for each original stock.

The cash dividends will be divided into 3 tranches; they will be disbursed by the end of June and September and December, respectively.

In addition, the OGM approved a capital increase from EGP 132 million to EGP 264 million. The increase is valued at EGP 132 million financed from the profit for 2019.

It is noteworthy that the company posted a profit of EGP 177.08 million in 2019, a 16% increase from net profits of EGP 152.57 million a year earlier.

Established in 1980 and listed in 1996, Zahraa Maadi Investment and Development, commonly known as Zahraa Maadi operates within the real estate sector focusing on diversified real estate activities.

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