Egypt's TMG to distribute first cash dividend
Cairo, April 15, 2014
Egyptian property developer Talaat Moustafa Group (TMG) will distribute a cash dividend of around 0.145 Egyptian pound ($0.02) after profits grew in 2013, the company said on Tuesday.
The payment, TMG's first cash dividend since it was formed in 2007, will be in two equal tranches to be distributed on April 30 and June 30 to holders of the stock as of April 27.
Talaat Moustafa's net profit rose 7.2 per cent last year to 585.19 million pounds.
Its shares were up 9.9 per cent at 1029 GMT, trading at 8.55 pounds. - Reuters
