By Ahmed Allam
Cairo – Mubasher: The ordinary general meeting (OGM) of Oriental Weavers Carpet gave the green light to distributing cash dividends at EGP0.50 a share for the fiscal year 2015.
The ordinary meeting also approved the reports of the board and auditors as well as 2015 financial statements.
The company’s net profits shrank 10% year-over-year to EGP339 million from EGP377.4 million, according to 2015 consolidated financial statements.
Earlier in 2015, the board of directors recommended paying out dividends at EGP0.50 per share, totaling EGP225 million against EGP180 million a year earlier.
Translated by Ahmed El-Sayed Ali
