ArabFinance: Acrow Formwork Technology’s (ACRO) ordinary general meeting approved annual cash dividends of EGP 96,345,707.5 for 2020, according to the company’s November 1st statement filed to the Egyptian Exchange.

The company will distribute EGP 1.75 per share to shareholders financed from the retained profit of 2020.

Acrow posted a consolidated net profit of EGP 36,209,284 in the first half (H1) of 2020, a 49% decline from EGP 71,165,386 achieved in the corresponding period a year earlier.

Last February, Acrow’s board decided to inaugurate a branch in Kenya under the name of Acrow Formwork East Africa Limited.

Established in 1977 and listed on EGX in 1982, the listed company operates within the capital goods sector, focusing on construction and engineering.