Egypt's Suez Cement declares 3.9 dividend

Reuters, Wednesday 16 Mar 2011

 Suez Cement, Egypt's largest listed cement maker by market value, declared a cash dividend of 3.9 Egyptian pounds ($0.658) per share, the bourse said on Wednesday.

The cement firm, a subsidiary of Italcementi, posted a 4.9 percent decline in 2010 full-year net profit to 1.2 billion pounds.

Suez also approved a 4.30 pound cash dividend for its subsidiary Torah Cement, whose 2010 net profit rose 29.6 percent.

In April 2010, Suez and Torah approved a cash dividend of 3.3 and 3 pounds per share respectively.

Suez holds approximately 26 percent of Egypt's grey cement market and 42 percent of its white cement market.

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