CAPMAS: Egypt's exports to UAE 141.2% in Jan–July, trade hits $5.4b    Egypt backs Sudan sovereignty, urges end to El-Fasher siege at New York talks    Egyptian pound weakens against dollar in early trading    Egypt's PM heads to UNGA to press for Palestinian statehood    As US warships patrol near Venezuela, it exposes Latin American divisions    More than 70 killed in RSF drone attack on mosque in Sudan's besieged El Fasher    Al-Wazir launches EGP 3bn electric bus production line in Sharqeya for export to Europe    Egypt, EBRD discuss strategies to boost investment, foreign trade    DP World, Elsewedy to develop EGP 1.42bn cold storage facility in 6th of October City    Global pressure mounts on Israel as Gaza death toll surges, war deepens    Cairo governor briefs PM on Khan el-Khalili, Rameses Square development    El Gouna Film Festival's 8th edition to coincide with UN's 80th anniversary    Cairo University, Roche Diagnostics inaugurate automated lab at Qasr El-Ainy    Egypt expands medical, humanitarian support for Gaza patients    Egypt investigates disappearance of ancient bracelet from Egyptian Museum in Tahrir    Egypt launches international architecture academy with UNESCO, European partners    Egypt's Sisi, Qatar's Emir condemn Israeli strikes, call for Gaza ceasefire    Egypt's Cabinet approves Benha-Wuhan graduate school to boost research, innovation    Egypt hosts G20 meeting for 1st time outside member states    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Egypt seeks Indian expertise to boost pharmaceutical industry    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egyptian, Ugandan Presidents open business forum to boost trade    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt's Oriental Weavers raises dividend after 30 pct profit rise
World's biggest machine-woven carpet maker says it will pay dividend of LE2 per share
Reuters Published in Ahram Online on 18 - 03 - 2014

Egypt's Oriental Weavers , the world's biggest machine-woven carpet maker, said on Tuesday it would pay a dividend of 2 Egyptian pounds ($0.29) a share after its net profit for 2013 rose almost 30 percent.
Shares in Egypt's Oriental Weavers on Monday hit their highest level since 2007 after the company said it was considering splitting each of its shares into five in a bid to boost liquidity and trading.
Net profit rose to 369.12 million Egyptian pounds last year on sales up 13 percent at 5.52 billion pounds, boosted by new designs, Oriental Weavers said in a statement.
Last year the company paid a dividend of 1.50 pounds a share on results for 2012, unchanged from the payout the previous year but down from the 2 pounds a share paid in 2011, according to Thomson Reuters data.
Egypt revised stock market regulations earlier this year to boost trading and attract more investment and a listed company no longer needs permission from the Egyptian Financial Supervisory Authority to split its shares if it complies with pre-set rules.
The board of Oriental Weavers has agreed the share split but the company said the final decision would be taken at an extraordinary general meeting.
Shares in Oriental Weavers rose more than 4 percent to trade at 47 pounds at 0844 GMT, putting its market value at 4.06 billion pounds.
http://english.ahram.org.eg/News/96966.aspx

Clic here to read the story from its source.