Suez Cement declares EGP3.9 dividend, Torah EGP4.3

Suez Cement declares EGP3.9 dividend, Torah EGP4.3
Published: 16 March 2011

Suez Cement, Egypt’s largest listed cement maker by market value, declared a cash dividend of EGP3.90  ($0.658) per share, the bourse said on Wednesday.

The cement firm, a subsidiary of Italcementi, posted a 4.9 per cent decline in 2010 full-year net profit to EGP1.2bn

Suez also approved a EGP4.30 cash dividend for its subsidiary Torah Cement, whose 2010 net profit rose 29.6 per cent.

In April 2010, Suez and Torah approved a cash dividend of 3.3 and 3 pounds per share respectively.

Suez holds approximately 26 per cent of Egypt’s grey cement market and 42 per cent of its white cement market.

Source: Reuters