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Mopco sets due date of cash dividends

Mopco sets due date of cash dividends

ArabFinance:  Misr Fertilizers Production Company – Mopco (MFPC) announced distributing a cash dividend of EGP 2.5 per share to subscriber and main shareholders on April 26th and December 31st respectively, according to a statement sent to the Egyptian exchange.

The shareholders who will have been recorded on April 21st will be entitled to cash dividends, the company said.

On March 26th, the general assembly approved the board of directors’ annual report for the year 2019.

The company posted consolidated profits of EGP 1.6 billion slipped from EGP 3.17 billion in the financial year 2018.

It attributed the profit decrease to the return of $66 million to a subsidiary's net profit of 2018. Mopco’s revenues for 2019 dropped by EGP 447 million, in addition to the decline exchange rate.

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