Cairo – Mubasher: Shares of Cairo Poultry surged by more than 4% during Monday's trading session, following the approval of the proposed profit distribution account.
By 12:03 PM Cairo time, the company's shares jumped 4.08% to reach EGP 10.17, attracting a trading value of EGP 173.3 million.
The stock's performance coincided with a 0.5% rise in the Egyptian Exchange's benchmark index, reaching the 51,157 points level.
Dividend Approval
The Ordinary General Assembly of Cairo Poultry approved the proposed profit distribution account.
According to the company's disclosure to the Egyptian Exchange today, the approval included the proposed profit distribution project at EGP 1.9 per share.
In a separate context, the Board of Directors resolved to summon the Extraordinary General Assembly to consider increasing the company's authorized capital to EGP 2,000,000,000 (only two billion Egyptian pounds), as well as considering the approval of adding new activities to the company's corporate purpose and amending Article (4) of the Articles of Association, in addition to approving the disclosure report pursuant to Article (48) of the Listing and Delisting Rules of the Egyptian Exchange.
