Heliopolis Housing proposes EGP1.35/share for 1H2015/16
Heliopolis Housing has announced that its Board of Directors (BoD) has proposed the distribution of EGP1.35/share in cash dividends for 1H2015/16 profits, implying 3.3% in dividend yield, on the latest closing stock price. This comes in line with our expectation of a relative hike in dividends (we expect EGP2.50/share for FY2015/16), supported by the closure of a number of receivable factoring contracts earlier in the year, which have boosted liquidity. (Company disclosure)
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