GB Corp’s (AUTO) ordinary general meeting (OGM) has greenlit the disbursement of a total of EGP 217.1 million in dividends, equivalent to EGP 0.20 per share, to shareholders for 2023, a filing revealed.

On March 3rd, the company reported an 81.1% year-on-year (YoY) decrease in consolidated net profits attributable to the parent company in 2023, recording EGP 1.891 billion, compared to EGP 9.985 billion.

GB Corp is a leading automotive company in the Middle East. The Egypt-based company has operations across six primary lines of business: passenger cars, motorcycles and three-wheelers, commercial vehicles and construction equipment, tires, after-sales, and Iraqi operations.