“Delta Insurance” approves cash dividends of 12.6 million pounds to its shareholders

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The Ordinary General Assembly of “Delta Insurance” approved dividends amounting to 12.6 million pounds for the fiscal year 2020-2021.

The general assembly approved the distribution of 5% first share, equivalent to 20 piasters per share, and 5% second share, equivalent to 20 piasters per share, as a second share, with a total cash distribution of 40 piasters per share.

It also approved the annual financial statements and the report of the board of directors and the auditor on the company’s activity and financial position during the period from July 1, 2020 to June 30, 2021.

The company raised the capital of “Delta Insurance” from 61.51% to 63.22%.

The company purchased about 537.5 thousand shares of “Delta Insurance” with a total value of 24.28 million pounds, bringing the average price per share within the purchase process to about 45.18 pounds.

Earlier, the Extraordinary General Assembly of “Delta Insurance” agreed to amend Article 21 of the company’s articles of association.

The article, after the amendment, includes increasing the members of the company’s board of directors to 11 instead of only 9.

The Extraordinary General Assembly of “Delta Insurance” approved the increase in the members of the Board of Directors.

The general assembly decided to increase the members of the board to 11 instead of 9, with the amendment of Article 21 of the company’s articles of association.

The profits of “Delta Insurance” increased by 56.25% during the first half of the current fiscal year, to reach 135.27 million pounds, compared to a net profit of 86.6 million pounds in the comparative year 2019.

Sales increased to EGP 146.84 million during the period from July to December 31, compared to total sales of EGP 100.4 million in the comparable period.

The company’s profits increased by 35.6% during the last fiscal year (2019-2020) to reach 183.6 million pounds, compared to 135.8 million pounds in net profits during the previous fiscal year, taking into account the rights of minority shareholders.

The company’s revenues increased during the last fiscal year to reach 745.5 million pounds at the end of June, compared to total revenues of 592.7 million pounds during the previous fiscal year.

The company stated that the increase in profits is due to the improvement in insurance results and the increase in net income from investments.

The article “Delta Insurance” approves cash dividends of 12.6 million pounds to its shareholders was written in Al Borsa newspaper.