Misr Cement Qena plans dividend of 5 Egyptian pounds

The board of Egypt’s Misr Cement Qena plans to pay a dividend of 5 Egyptian pounds ($0.8) per share from first-half profit, the firm said in a note to the stock exchange.

The company, which will hold its ordinary shareholder meeting on Sept. 10, posted an 11 percent decline in first-half net profit to 194.6 million pounds, down from 219.6 million for the same period in 2010, based on Reuters calculations.

Shares in Misr Cement Qena inched 0.8 percent higher on Monday, while Egypt’s benchmark share index rose 0.4 percent by 1055 GMT.