CLEOPATRA HOSPITAL COMPANY
CLHO
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Cleopatra Hospitals Group Rewards Shareholders with EGP 56 Million Dividend Payout
Cleopatra Hospitals Group approves EGP 56M dividends amid rising profits and Saudi healthcare expansion.
April 22, 2024 at 10:09:00 AMScore: 92
Cleopatra Hospitals Group (CLHO) has secured shareholder approval for a cash dividend distribution of EGP 55.95 million for the 2023 fiscal year, as disclosed in a recent stock exchange filing. The board initially proposed the dividends in March, with final approval granted during the Ordinary General Meeting (OGM) on 18 April 2024. The group reported robust financial performance, with consolidated net profits after tax surging to EGP 469.29 million in 2023, up from EGP 356.73 million the previous year. Standalone net profits also climbed year-on-year to EGP 273.72 million from EGP 217.25 million. Additionally, the company announced a strategic partnership with Fawaz Abdulaziz Al-Hokair Company (Cenomi Retail) to bolster Saudi Arabia’s healthcare sector through a long-term care facility.
Recommended Actions
- Consider buying CLHO shares for dividend income if aligned with your portfolio strategy.
- Monitor post-dividend stock performance to assess market reaction.
- Track updates on the Saudi healthcare partnership for future growth potential.
- Review Q1 2024 financials to confirm profit momentum.
- Set price alerts for CLHO to capitalize on potential dips or rallies.
Positive Aspects
- EGP 56M dividend payout approved, reflecting strong cash flow.
- 469.29M consolidated net profit in 2023, up 31.5% YoY.
- Strategic partnership to expand healthcare footprint in Saudi Arabia.
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