Thursday 21 June 2018

EFG plans dividend after QInvest tie-up

Cairo, June 3, 2012

Egypt's EFG Hermes said on Sunday it would distribute a dividend of 4 Egyptian pounds ($0.66) per share after it completes a joint venture it is forming with Qatar's QInvest.

It confirmed in a statement that shareholders had approved the venture, in which EFG would have a 40 percent stake and QInvest 60 percent.

"As a result of the transaction, the proceeds will be utilised to distribute a dividend of EGP 4 per share, representing a dividend yield per share of 36 percent, in the form of actual annual profits, capital gains, retained earnings and capital reduction," the statement said.  - Reuters

Tags: QInvest | dividend | EFG |

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