Egypt Kuwait Holding's general assembly greenlights $53.2mln dividends for 2024
The approved amount represents 19% of the company's capital. This includes a cash dividend equivalent to 14% of the share's par value, amounting to $39.11 million or 3.5 US cents per share.
Furthermore, the general assembly greenlighted the distribution of stock dividends totaling $14.09 million, accounting for 5% of the company's issued and paid-up capital.
In this regard, the shareholders will receive one free share for every twenty original shares for the fiscal year that ended on December 31st, 2024.
Loay Jassim Al-Kharafi, Chairman of the board of EKH, said: "We look forward to 2025 as the launchpad for a new phase of growth and selective expansion, driven by an ambitious strategy to cement our Group's and subsidiaries' market standing and expand our presence regionally and globally."
Jon Rokk, CEO of EKH, stated: "In 2025, we will continue to pursue opportunities aligned with our strategic objectives and actively contribute to generating added value for both our shareholders and clients."
Rokk added: 'We are gearing up to expand our footprint in 2025, with plans to enter the Saudi market for the first time and kick off a new project in Northern Europe.'
He indicated that the group plans to spend between $150 million and $200 million in CAPEX over 2025 and 2026, seeking new opportunities and expanding its existing portfolio.
The group's revenues amounted to $642 million at the end of December 2024, backed by a 40% growth in gross profit margin and a 39% increase in EBITDA margin.
Net profit reached $185 million, with net profit margin increasing by 2% points to 29%.
The net profit attributable to the company's shareholders amounted to $163 million in 2024.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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