Egyptian tobacco firm Eastern approves cash dividend

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CAIRO: Egypt’s cigarette monopoly Eastern Company announced a shareholder dividend of LE 5.5 ($1) per share, the bourse said on Monday, higher than the previous year’s payout.

The dividends were agreed at the firm’s annual general meeting on Sunday. The statement did not say when the payment would be made. The firm, which has 50 million listed shares, posted a 2.6 percent rise in net profit to LE 851.9 million for the year to end-June.

In 2009, the firm paid out a LE 4.5 dividend.

The firm’s shares were up 0.01 percent by 0751 GMT. The main index, EGX30, was down 0.4 percent.

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By Reuters
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