ArabFinance: The Egyptian International Pharmaceutical Industries Company (EIPICO) (PHAR) has announced a delay in disbursing the first installment of the approved EGP 3 per share dividends due to emergency circumstances, according to a filing to the Egyptian Exchange (EGX) on Wednesday.

Accordingly, the first dividend installment worth EGP 1.5 per share will be paid as of the first working day after the end of Eid Al-Fitr holiday.

EIPICO attributed the payment postponement to a delay in the transfer process of the coupon value to Misr Clearing Company for Depository and Central Registry.

It is worth noting that the first installment was set to be paid on April 26th.

The second dividend installment is scheduled to be paid on July 28th.

The company’s ordinary general meeting (OGM) previously approved the distribution of EGP 3 per share in cash dividends for the year 2021.

In 2021, EIPICO recorded a consolidated profit attributable to the parent company of EGP 483.917 million, up from EGP 422.832 million in 2020.

EIPICO is an Egypt-based public shareholding company that operates in the pharmaceutical industry. It is a manufacturer and exporter of pharmaceuticals and holds license agreements with a group of international.