Abu Qir Fertilizers’ (EGX:ABUK) board of directors approved cash dividends worth EGP 1.5 billion, EGP 1.2 per share, for the fiscal year (FY) 2020/2021, according to the company statement filed to the Egyptian Exchange.

Abu Qir posted a net profit of EGP 3.516 billion in FY 2020/2021.

Earlier, the company’s board of directors approved the estimated budget of the fiscal year 2021/2022, targeting a net profit of EGP 2.114 billion.

Abu Qir Fertilizers is an Egypt-based company engaged in the agricultural chemicals sector. The company focuses on the production, distribution, and export of fertilizers, chemicals, and related products.