Cairo – Mubasher: The shareholders of Talaat Moustafa Group Holding (TMG Holding) approved the board’s recommendation to disburse EGP 400 million as cash dividends for 2022.
The board members suggested a divided distribution of EGP 0.19 per share to be paid over two equal tranches on 31 May and 31 July 2023, respectively, according to a bourse filing.
It is worth noting that the shareholders greenlighted the dividends proposal during the ordinary general meeting (OGM) that was held on 20 March 2023.
Last year, the EGX-listed company generated EGP 2.23 billion in consolidated net profit after tax, a 25% growth from EGP 1.78 billion in 2021.
Meanwhile, the sales of the real estate developer hit EGP 33.20 billion as of 31 December 2022.
