Cairo – Mubasher: The ordinary general meeting (OGM) of Cairo for Investment and Real Estate Development (CIRA) approved a cash dividend of EGP 100 million for the year ended 31 August.
The company will pay EGP 0.1715 per share in cash dividends to shareholders within a month from the date of the OGM, according to a bourse disclosure on Wednesday.
In a separate statement, CIRA announced that its board of directors agreed on borrowing EGP 260 million from one of the Egyptian banks to finance the company’s new projects in the coming period.
In the nine-month period ended 31 May, CIRA achieved consolidated net profits of EGP 458.2 million, up from EGP 330.9 million in the year-ago period, including minority shareholders' rights.
