Delta Insurance Shareholders Approve EGP 0.60/Shr Dividend

The ordinary general meeting of Delta Insurance Co. gave a nod yesterday to financial statements for the fiscal year that ended on June 30, 2012.

The insurer’s FY11/12 consolidated financial statements for FY11/12 had reflected EGP 25.897 million net earnings, surging 82.8% year-over-year from EGP 14.163 million. Standalone financial results for the same FY mirrored EGP 22.771 million net profit, compared with EGP 13.091 million.

Shareholders also approved the board’s recommendation on paying cash dividend at 15% of paid-in capital, or EGP 0.60 per share.

Meanwhile, the extraordinary general meeting (EGM) unanimously gave a nod to amending article No. 21 of Articles of Incorporation as regards setting the maximum number of board members at nine.

Mubasher