Egypt Aluminium approves dividend rise

CAIRO, Sept 25 (Reuters) - Shareholders of Egypt Aluminium EGAL.CA approved a cash dividend of 4.50 Egyptian pounds ($0.83) per share, the company said in a statement on Thursday. It gave no further details. Last year the company paid out 4 pounds a share. The statement said the shareholders had also approved a share buyback at the firm's annual general meeting, but gave no details as to the number of shares sought or the timeframe. The company's chief financial officer, Dessouqi Taha, told Reuters the scope of the buyback would be decided later based on prevailing market conditions. Egypt Aluminium made a net profit of 906.28 million Egyptian pounds in the financial year ended June 2008, 13.2 percent up from the previous year, the stock exchange said on Monday. Shares in the company were 1.42 percent lower at 45.10 pounds per share by 0932, off earlier lows of 43.50. ($1 = 5.4505 Egyptian pounds. Writing by Aziz El-Kaissouni