Egypt: Edita’s board greenlights 2023 dividends, sale deal

In the first quarter of 2024, the company’s consolidated net profits after tax increased by 25.70%

Staff Writer, Mubasher

October 16, 2024

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Cairo – The board members of Edita Food Industries agreed to sell used spare parts, to Morocco-based Edita for an amount of EGP 419,960, according to a bourse filing.

The board also greenlighted cash dividends valued at EGP 400 million for 2023, which is subject to the approval of the extraordinary general meeting (EGM).

Edita will pay out a dividend of EGP 0.57 to the shareholders. The board passed the two decisions during their meeting that was held on 14 October 2024.

In the first quarter (Q1) of 2024, the company’s consolidated net profits after tax increased by 25.70% to EGP 502.79 million from EGP 399.92 million in Q1-23.

Source:Mubasher

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