Sabaa shareholders okay capital dividends for 2020
Updated 5/19/2021 1:55:00 PM
ArabFinance: Sabaa International for Pharmaceutical and Chemical Industry’s (SIPC) ordinary and extraordinary general assemblies approved annual dividends for 2020 of EGP 12.037 million.
The dividends will be through free 6 million shares distribution at par value of EGP 2 per each, the statement highlighted.
Sabaa will distribute one free share for every seven held.
The extraordinary general assembly approved the capital increase by EGP 12 million to EGP 100 million.
In April, the company obtained the Financial Regulatory Authority’s go-ahead to increase the capital to EGP 100 million from EGP 88 million.
Sabaa reported a net profit of EGP 15.14 million in 2020, compared to EGP 8.58 million in 2019.
The Egypt-based company is engaged in the pharmaceutical sector, with a generic product portfolio that includes products focused on different therapeutic categories.
