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Arab Moltaka Investments to distribute EGP 15M

Arab Moltaka Investments to distribute EGP 15M

ArabFinance:  Arab Moltaka Investments Company’s (AMIC) ordinary general assembly approved the dividends to shareholders of EGP 15 million for 2020, according to the company’s statement filed to the Egyptian Exchange.

On March 29th, the general assembly approved the financial results and dividends for 2020.

The shareholders also ratified the 1:10 stock split. The par value of the share after the split will amount to EGP 1 instead of EGP 10 per each. The issued and paid-in capital will be unchanged at EGP 300 billion distributed on 300 million shares instead of 30 million shares. 

The company posted a consolidated net profit before the minority interest of EGP 74,509,126 in 2020.

Standalone net profit reached EGP 35,510,250 in 2020, a 13% rise from EGP 31,462,557 posted in 2019.

AMIC plans to increase the volume of assets under management to EGP 6 billion by the end of 2021 and penetrating new sectors.

AMIC invests in a diversified range of economic sectors covering a broad spectrum including industrial and agricultural investments, land reclamation and cultivation, livestock development, fisheries, real estate investments, and tourism.

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