Egyptian Alexandria Cement AGM Approves US$0.54 Dividend/Share 9-Mo 2007

Egyptian Alexandria Cement AGM Approves US$0.54 Dividend/Share 9-Mo 2007
Published: 06 December 2007

The annual general meeting (AGM) of Egyptian company Alexandria Cement approved on December 5, 2007 a cash dividend of E£3 (US$0.54/€0.37) per share for the first nine months of 2007.

Alexandria Cement is traded on Cairo and Alexandria Stock Exchanges (CASE) under the ALEX.CA symbol.

It has 12,057,470 shares at a par value of E£10 (US$1.81/€1.24). The company’s market capitalisation amounts to E£752.4m  (US$136.2m/€93.2m).

For the first nine months of 2007, the company posted a consolidated net profit of E£131.6m (US$23.8m/€16.3m) and a non-consolidated profit of E£133m (US$24.1m/€16.5m).
The comparative year-ago results were irrelevant due to the merger of Alexandria Cement with local cement producer company Blue Circle Egypt.

With one production line, the company produces 1.25Mta of cement.