Egyptian tycoon Safwan Thabet receives $8.75 million in dividends from Juhayna
Thabet owns a majority 50.07-percent stake in the Egypt-based food products manufacturer.
Thabet owns a majority 50.07-percent stake in the Egypt-based food products manufacturer.
Thabet owns a majority 50.07-percent stake in the group.
The dividend will be paid from Juhayna’s retained earnings of $65.48 million.
Thabet owns a majority stake in the company, worth $194.7 million.
The gain in his stake can be linked to renewed investor buying interest driven by the company’s robust financial performance.
Juhayna Food Industries is a leading company specializing in producing, processing and packaging dairy, juice and cooking products.
Juhayna’s shares have been on the rise since June 1, as bargain hunters acquire shares following a four-month sell-off.