Oriental Weavers to issue dividend of 0.5 Egyptian pounds/share

Egypt’s Oriental Weavers, the world’s biggest machine-woven carpet maker, will pay a dividend of 0.5 Egyptian pounds ($0.0563) per share, the company announced in a bourse statement Sunday.

The company paid a dividend of 0.4 pounds a year earlier.

Last month, Oriental Weavers reported a fourth-quarter net profit of 66 million Egyptian pounds, up from 55 million a year earlier. Sales rose by four percent.

Source: Reuters