Cairo – Mubasher: The Ordinary General Assembly of Madinet Nasr for Housing and Development approved the report of the Board of Directors and the financial statements for the past year.
The company said in a statement to the Egyptian Stock Exchange today, Wednesday, that the general assembly agreed to distribute a cash coupon to shareholders at 0.15 pounds per share, to be spent in two installments during the months of May and October 2023.
The general assembly also agreed to increase the issued and paid-up capital by 35 million pounds from 2.1 billion pounds to 2.13 billion pounds by issuing 35 million shares at nominal value allocated to the reward and incentive system.
Madinat Nasr for Housing and Development achieved profits after tax amounting to 736.73 million pounds during 2022, compared to profits amounting to 282.83 million pounds in 2021, taking into account minority rights.
The company’s revenues rose during the past year to 5.33 billion pounds, compared to 2.23 billion pounds in 2021.
In terms of the non-consolidated financial statements, the profits of the independent company rose during the past year to 747.4 million pounds, compared to 282.63 million pounds in the previous year.
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