Arab Finance: Oriental Weavers’ ordinary general meeting (OGM) has approved disbursing cash dividends of EGP 0.60 per share, or a total of EGP 399.06 million, to shareholders for 2022, the company stated on April 9th.
Shareholders will receive the dividends in May.
In 2022, the company’s consolidated net profits attributable to the parent company stood at EGP 842.88 million, compared to EGP 1.085 billion in 2021.
Established in 1979, the Oriental Weavers is one of the world’s largest carpets, rugs, and related raw materials producers, with a distribution network spanning across six continents exporting approximately 65-70% of its production to more than 130 countries.