Talaat Moustafa to distribute first dividend

April 17, 2014 9:59 am

Egyptian property developer Talaat Moustafa Group (TMG) has announced it is to distribute a cash dividend of around EGP0.145 after profits grew in 2013, Reuters has reported. The company said its net profit rose 7.2% in 2013 to EGP585.19m. The payment, TMG’s first cash dividend since it was formed in 2007, will be in two equal tranches to be distributed on April 30 and June 30 to holders of the stock as of April 27.