Egypt's Oriental Weavers to pay cash, share dividends

Shareholders in Egyptian carpetmaker Oriental Weavers approved a dividend of 3 Egyptian pounds per share and one free share for every 4.8467 owned, the bourse said on Monday. Pending agreement of Egypt's financial regulator, the company will carry out a five-for-one share split. Oriental Weavers, the world's biggest machine woven carpet producer, previously reported net profit after minority interests rose 0.4 per cent to 312m pounds in 2009. The stock dividend will be financed from reserves. In 2008, the group paid a dividend of 1.1 pounds.