Cairo – The board members of Edita Food Industries passed cash dividends to the shareholders valued at EGP 299.70 million, according to a bourse filing.

The cash amount will be taken from the retained earnings account in the company’s financial statements as of 31 December 2022.

Subject to the approval of the shareholders, the EGX-listed firm will pay out a dividend of EGP 0.42 per share.

The board members greenlighted the cash dividends during their meeting on 10 October 2023.

Last week, Edita announced the board’s approval for a 3% capital reduction to EGP 140 million from EGP 144.61 million.

In order to implement the capital cut process by cancelling 23.04 million treasury shares at a par value of EGP 0.20 per share.

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