Home MoneyBanks Egypt’s CIB bank to issue dividend of 0.5 Egyptian pounds per share for 2016

Egypt’s CIB bank to issue dividend of 0.5 Egyptian pounds per share for 2016

by Yomna Yasser

Commercial International Bank (CIB), Egypt’s largest listed company, announced Wednesday its board recommends a cash dividend of 0.50 Egyptian pounds ($0.0265) per share for 2016.

The CIB board also approved a Tier 2 capital loan of up to $300 million, the bank said in a bourse statement, adding that the float of the Egyptian pound Nov. 3 had resulted in a fall in the value of its assets and commitments in foreign currencies amounting to 325 million pounds.

($1 = 18.8500 Egyptian pounds)

Source: Reuters

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