February 1, 2017 / 8:12 AM / 3 years ago

Egypt's CIB plans to issue dividend of 0.5 Egyptian pounds per share for 2016

CAIRO, Feb 1 (Reuters) - Egypt’s Commercial International Bank (CIB), Egypt’s largest listed company, said on Wednesday its board recommends a cash dividend of 0.50 Egyptian pounds ($0.0265) per share for 2016.

The CIB board also approved a Tier 2 capital loan of up to $300 million, the bank said in a bourse statement, adding that the float of the Egyptian pound Nov. 3 had resulted in a fall in the value of its assets and commitments in foreign currencies amounting to 325 million pounds.

$1 = 18.8500 Egyptian pounds Reporting by Asma Alsharif, editing by Louise Heavens

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