Reuters – Suez Cement, Egypt’s biggest listed cement maker by market value, will pay a cash dividend of EGP 2.65 ($0.38) per share, it said in a statement published on the bourse on Tuesday.
The company, which lists Italcementi Group as its main shareholder, said it would make the payment in two phases. One pound per share will be distributed in April, and EGP 1.65 per share in September.
Last year, Suez Cement paid a cash dividend of EGP 1.65 per share, according to Thomson Reuters data. Shares in Suez Cement were down 10% at EGP 36 at 1010 GMT.
Italcementi owned 55.08% of Suez Cement as of end-December, according to Thomson Reuters data.