Advanced Television

Nilesat declares dividend

March 30, 2023

By Chris Forrester

Cairo-based satellite operator Nilesat has declared payment of a cash dividend equal to $0.45 per share. Payment to shareholders will be made on April 13th.

While the 45c to be paid is the same as that for 2021, it is a reduction of that paid in 2020 (55c) and 2019 (60c).

Nilesat has improved its trading position after a few years where revenues were under pressure. For example, its Gross Profit for 2022 was $45.39 million (2021 was $22.89m). Net income for 2022 was $38.97 million (2021 $30.75m).

Its overall revenue for last year was lower than the past two years at $99.86 million (2021 $111.76, and 2020 was $125.10m).

Nilesat has also trimmed its expenses. For example, for 2022 its total operating expense stood at $68.72 million (2021 $95.25m, and 2020 $101.78m).

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