ArabFinance: The Ordinary general meeting (OGM) of Egyptian Satellites (NileSat) (EGSA) has approved the board of directors’ proposal on the cash dividends distribution for 2021 earnings, according to a statement filed to the Egyptian Exchange (EGX) on March 31st.

Accordingly, the company shall disburse to shareholders cash dividends worth $16.79 million, equivalent to $0.45 per share.

It is worth noting that the company previously reported a 9.97% drop in net profit after tax for 2021, recording $30.75 million, as compared to $34.15 million in 2020.

NileSat is an Egypt-based public shareholding company that offers services related to satellite radio and television broadcasting, in addition to 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.