Egyptian Tycoon Yasmine Khamis' Oriental Weavers To Pay 21 Million Dividend

Cairo-based Oriental Weavers, led by Egyptian business executive Yasmine Mohamed Khamis and her siblings, has announced a final dividend payout of 21 million for the 2024 fiscal year, reflecting its strong financial performance.

The decision to reward shareholders comes after a year of solid earnings growth and continued market expansion. Under Khamis, Oriental Weavers has strengthened its position as a global leader in machine-woven carpets and rugs, focusing on profitability and operational efficiency.

Subject to approval at the upcoming Ordinary General Assembly, the company will distribute EGP1.06 billion 21 million in cash dividends , translating to EGP1.6 0.032 per share. This marks a significant increase from the previous year, reflecting managements confidence in the companys financial health.

Oriental Weavers reported a net profit of EGP2.54 billion 50.14 million in 2024, up from EGP1.89 billion 37.31 million in 2023. Revenue also climbed, reaching EGP24.28 billion 479.31 million, compared to EGP17.65 billion 348.41 million the previous year, driven by strong demand and improved operational efficiency.

Beyond its financial success, Oriental Weavers is reinforcing its commitment to sustainability. The company recently completed a EGP24 million 0.47 million expansion of its industrial wastewater treatment plant at its spinning factory. The upgraded facility, equipped with four treatment stages, has a daily capacity of 1,250 cubic meters, enhancing both environmental impact and operational sustainability.