ArabFinance:  The Egyptian Satellites’ (NileSat) board of directors proposed dividends of $0.40 (EGP 6.29) per share, according to the company’s statement filed to the Egyptian Exchange.

NileSat posted a net profit of  $34.15 million (EGP 536.67 million) in 2020, compared to $42.53 million (EGP 668.36) million in 2019.

The company reported a 17% YoY decline in its net profit for the first half of 2020, recording $19,56 million (EGP 311,11 million).

NileSat is an Egypt-based public shareholding company that offers services related to satellite radio and television broadcasting, in addition to the broadband internet. The company has a booking center that provides a range of services including satellite newsgathering as well as feed and turnaround services, in addition to a training center.

At press time, the conversion rate is $1 = EGP 15.72