RYMCO distributes dividends

New board of directors elected

Rasamni Younes Motor Company (RYMCO) announced that it will distribute dividends of $3 million on its 2012 profits. The company will pay out 11 cents per share to shareholders, representing around three percent of the share price ($3.5 per share at last closing).

RYMCO had made $5 million in net profits in 2012, up by 230 percent from the previous year. RYMCO’s capital comprises around 27 million shares.

RYMCO’s general assembly elected a new board of directors, chaired by Fayez Rasamni, and serving until 2015. Members of the board include Ziad al-Rayes, Albert Lteif, Omar Jaroudi, Fadi Younes, and Ziad Rasamni, and Houssam al-Sayyed, representing Mohammad Abdul Mohsen Khorafi & Sons.