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Arab Aluminum approves cash dividends

Arab Aluminum approves cash dividends

ArabFinance: The ordinary general assembly of Arab Aluminum Company (AAC) (ALUM) approved distributing cash dividends for 2020, according to the company’s March 17th filing to the Egyptian Exchange.  

The first tranche of dividends represents 5% of the company’s capital, or EGP 1.41 million, while the second tranche represents 25% of the capital at EGP 1.5 per share.

The company’s unaudited financials showed an 81% Year on Year jump in its net profit in 2020, registering EGP 13.67 million.

On a yearly basis, the company’s net profit rose 5% during the first nine months of 2020, recording EGP 7.728 million.  

AAC is an Egypt-based company that specializes in extruding aluminum profiles for architectural and industrial applications.

The company undertakes the activities of aluminum billet casting, dies, extrusion, alloys, painting, and anodizing.

 

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