Egypt's EFG Hermes said on Sunday it would distribute a dividend of LE4 per share after it completes a joint venture it is forming with Qatar's QInvest.
It confirmed in a statement that shareholders had approved the venture, in which EFG would have a 40 per cent stake and QInvest 60 per cent.
"As a result of the transaction, the proceeds will be utilised to distribute a dividend of LE4 per share, representing a dividend yield per share of 36 per cent, in the form of actual annual profits, capital gains, retained earnings and capital reduction," the statement said.
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