Cairo – Mubasher: Suez Cement’s ordinary general meeting gave nod to the payout of 2015 dividends at EGP1 per share, totaling EGP181.8 million, the company said Sunday on a bourse filing.
The ordinary meeting also ratified 2015 financial statements as well as the reports of the auditor and board for the same fiscal year.
Moreover, shareholders agreed on issuing guarantees for Tourah Portland Cement and Helwan Cement Company to obtain bank loans and credit facilities to finance gas-to-coal conversion as well as working capital.
The company’s FY15 consolidated losses reached EGP60 million, against EGP499.7 million profits in 2014. Meanwhile, FY15 standalone profits decreased to EGP361 million from EGP478.9 million in 2014.
