Cairo – Mubasher: The board of directors of the Egyptian Satellites Co (NileSat) recommended a cash dividend distribution of 50 cents per share for fiscal year 2019.

The proposal will be referred to the ordinary general meeting (OGM), scheduled to be held on 14 March, for approval, the company said in a statement to the Egyptian Exchange (EGX) on Thursday.

It is noteworthy that for the full-year 2019, NileSat posted a 20% drop in its net profit, registering $42.53 million, compared to $53.46 million in 2018, according to the company’s financial indicators.