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EGX sets Upper Egypt Mills' stock limit down

EGX sets Upper Egypt Mills' stock limit down

ArabFinance: The Egyptian Exchange (EGX) has set the limit down of Upper Egypt Mills Company at 19.099%, according to the company’s December 13th filing.

The circuit breaker of the company’s stock is also set at a limit down level of 14.605%, the EGX disclosure added.

The stocks’ price movement limits will be effective as of the closing session of the ex-dividend date on December 13th.

The EGX’s decision came after the company’s announcement of distributing cash dividends of EGP 10 per share on December 16th.

Upper Egypt Mills posted a consolidated net profit of EGP 27,327,639 in the July-September 2020, compared to EGP 31,428,051 achieved in the prior-year period.

UEMC is primarily involved in the manufacture, processing, import, export, warehousing, and distribution of different types of grains and grain derivatives, as well as baking bread. Upper Egypt Flour Mills holds a majority stake of 54.5% in a flour milling company and Kings Valley Mills Company

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