B Investments’ board of directors proposed the distribution of EGP 4/share in dividends for FY-2022, & another dividend distribution of EGP 1/share + 1 bonus share/share for Q1-2023.
B Investments had said it plans to pay out dividends using proceeds from its recently-exited positions in TotalEnergies Egypt & Giza Systems.
B Investments’ stock closed up 8.7% on the back of the news, but it’s important to remember that big-sized dividend payouts are usually not sustainable & signal that profits are not being reinvested in the company.
The company’s general assembly is set to vote on the first dividend proposal on March 20, 2023, & on the second proposal before H1-2023 is over.
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