{"id":630287,"date":"2018-04-17T03:54:03","date_gmt":"2018-04-17T03:54:03","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/17\/oc-to-pay-dividends-to-shareholders-despite-retained-losses\/"},"modified":"2018-04-17T03:54:03","modified_gmt":"2018-04-17T03:54:03","slug":"oc-to-pay-dividends-to-shareholders-despite-retained-losses","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/17\/oc-to-pay-dividends-to-shareholders-despite-retained-losses\/","title":{"rendered":"OC to pay dividends to shareholders despite retained losses"},"content":{"rendered":"

Orascom Construction shareholders asked to approve capital reduction make dividend payment possible:<\/strong> Orascom Construction (OC) will paying dividends to shareholders for the first time since its dual listing on the Nasdaq Dubai and the EGX. The move comes despite the company holding an accumulated loss of USD 281.3 mn since the company formed, largely as a result of now-delivered projects in the US. The company, which has returned to profitability, plans to pay USD 30 mn through an accounting mechanism called a capital reduction of the share premium account. The company\u2019s extraordinary general assembly will meet on 9 May to vote on the plan, according to a company statement (pdf)<\/a>.<\/p>\n

Why, Enterprise. How does this nifty capital reduction business you speak of allow you to pay a dividend a retained loss?<\/strong> Glad you asked, but please bear these basics with us. On a listed company\u2019s balance sheet, equity is determined through its share capital (issued capital), the share premium \u2014 the additional amount investors paid for their shares in excess of the par value \u2014 and retained earnings. OC shareholders are being asked to effectively transfer USD 281.3 mn in share premium to retained earnings. By subtracting OC\u2019s accumulated losses on its balance sheet from its share premium, the company ends up flipping negative retained earnings to a positive and thus to make it possible to pay a dividend to shareholders as well as provide liquidity to support future dividends.<\/p>\n","protected":false},"excerpt":{"rendered":"

Orascom Construction shareholders asked to approve capital reduction make dividend payment possible: Orascom Construction (OC) will paying dividends to shareholders for the first time since its dual listing on the Nasdaq Dubai and the EGX. The move comes despite the company holding an accumulated loss of USD 281.3 mn since the company formed, largely as […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-630287","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"1e0613f4-bb1b-462a-be5b-1ddd2e753536","order":"0","is_powered_by":true,"section_story_id":"40e47e51-77b9-4b8f-9dd1-c67892c6e8df","story_type":"1","photo_url":"","photo_position":"above","related_issue":[630271],"teaser":"","voice_url":""},"yoast_head":"\nOC to pay dividends to shareholders despite retained losses - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/17\/oc-to-pay-dividends-to-shareholders-despite-retained-losses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OC to pay dividends to shareholders despite retained losses\" \/>\n<meta property=\"og:description\" content=\"Orascom Construction shareholders asked to approve capital reduction make dividend payment possible: Orascom Construction (OC) will paying dividends to shareholders for the first time since its dual listing on the Nasdaq Dubai and the EGX. 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The company's total consolidated backlog now sits at c. USD 6.4 bn.High-speed rail\u2026","rel":"","context":"In "Construction"","block_context":{"text":"Construction","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/construction\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":580894,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/24\/orascom-construction-announces-2022-dividend-payout\/","url_meta":{"origin":630287,"position":2},"title":"Orascom Construction announces 2022 dividend payout","author":"enterpriseam admin","date":"24 January 2023","format":false,"excerpt":"MARKET WATCH-Orascom Construction will pay out dividends of EGP 5.535 (USD 0.185) per share for 2022, redeemable on 9 February, it said in an EGX disclosure (pdf) earlier today. The company will pay out a total of EGP 646 mn (USD 21.6 mn) worth of dividends. 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