Elsewedy to pay out EGP 1.7 bn in shareholder dividends

Elsewedy Electric agreed this week to pay EGP 1.7 bn in dividends to shareholders at EGP 0.8 per share, according to a company statement (pdf). Elsewedy Electric reported in February a 17.3% y-o-y drop in net profit to EGP 1.5 bn in 4Q2018, down from EGP 1.8 bn in 4Q2017, while revenues for the quarter grew 12.8% y-o-y to EGP 12.2 bn from EGP 10.8 bn in 4Q2017.