DUBAI: Agthia Group, the Abu Dhabi-listed food and beverages company, will pay 65.31 million dirhams ($17.8 million) cash dividend for the first six months of 2021.
In a statement, the company said the dividend has been approved by the shareholders and is equivalent to 8.25 fils per share. The dividend marks the first interim pay-out of the firm, it said.
On September 15, Agthia announced it has completed the strategic acquisition of a majority stake in Ismailia Investments (Atyab), an Egyptian producer of frozen processed chicken and beef products.
The company said through a portfolio of four brands, Atyab caters to the value, economy and premium segments of the Egyptian market. It has a processing capacity of around 70,000 tons per year through its facilities and production lines, including a 60,000 sqm manufacturing facility.
The company said the announcement to pay dividends comes after it witnessed a “promising” growth in the first half of the year.
Agthia’s portfolio of products includes bottled water, processed food, as well as dairy and frozen goods. The company’s total revenues grew 21 percent year-on-year to 1.32 billion dirhams in the first six months of 2021.