Egypt Kuwait Holding’s general assembly greenlights $53.2mln dividends for 2024

Egypt Kuwait Holding’s (EKH) general assembly approved the distribution of $53.2 million as cash dividends for 2024, according to an emailed press release.

The approved amount represents 19% of the company's capital. This includes a cash dividend equivalent to 14% of the share’s par value, amounting to $39.11 million or 3.5 US cents per share.

Furthermore, the general assembly greenlighted the distribution of stock dividends totaling $14.09 million, accounting for 5% of the company's issued and paid-up capital.

In this regard, the shareholders will receive one free share for every twenty original shares for the fiscal year that ended on December 31st, 2024.

Loay Jassim Al-Kharafi, Chairman of the board of EKH, said, "We look forward to 2025 as the launchpad for a new phase of growth and selective expansion, driven by an ambitious strategy to cement our Group’s and subsidiaries' market standing and expand our presence regionally and globally."