Cairo-based investment bank Egyptian Financial Group-Hermes Holding Company is issuing stock dividends to its shareholders, as announced in a statement to the Egyptian Stock Exchange on Monday.

The company will distribute 0.2 shares for each underlying share on 30 September.

EFG-Hermes' net profit dropped by 53 percent in the first six months of 2013 to reach LE 69 million, compared to the same period a year before when net-profit totaled LE 148.2 in H1.

The investment bank reported a net loss of LE 29 million in the second quarter of 2013, as regional conditions resulted in impairment charges, some of which were related to legacy investments.

EFG-Hermes stocks were up 1.62 percent at noon on Monday, trading at LE 8.77 per share.

The company's stocks have been suffering since its exclusion from the MSCI index in late May, when sales from investors sent them spiraling down to their lowest in eight years.