CAE AGM approves EGP4.24 DPS for FY18, yield of 9%
Credit Agricole-Egypt’s (CAE) AGM approved the BoD’s proposed cash dividend distribution for the full-year 2018 of EGP4.24/share, up from EGP3.77/share in FY17, implying a dividend yield of 9.4% and a payout ratio of 66% (also 66% in FY17). The ex-dividend date will be 16 April, and the payment date will be 18 April. (Company disclosure)
Credit Agricole: EGP45.28 as of 20 Mar. 2019, Rating: Buy, TP: EGP53.10/share, MCap: USD817mn, CIEB EY/CIEB.CA
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