ArabFinance: The ordinary general meeting (OGM) of Canal Shipping Agencies (CSAG) has approved the distribution of cash dividends worth EGP 0.81749102 to shareholders for fiscal year 2020/2021, according to a statement filed to the Egyptian Exchange (EGX).
Moreover, the OGM agreed on raising the company’s ownership in the Egyptian Company for Integrated Projects (Torgman Group) by EGP 733,000, bringing its total ownership in Torgman Group to EGP 14.385 million.
It is worth noting that the company reported a net profit of EGP 200.192 million for fiscal year (FY) 2020/2021, down from EGP 328.913 million in FY 2019/2020.
Canal Shipping is a subsidiary of the Holding Company for Maritime and Land Transport that provides marine port services and shipping services to international commercial fleets.
The company operates four agencies, namely Asswan Shipping Agency, Assuit Shipping Agency, El Menia Shipping Agency, and Damanhour Shipping Agency.