The executive management of Egypt’s landline operator Telecom Egypt (TE) has proposed a $0.05 cash dividend for 2014 profits, according to CEO Mohamed El Nawawy.
TE posted consolidated and standalone financial results for H1 that ended on June 30, 2014. Consolidated financial results showed EGP 1.5 billion net profit, with a decline by 12% compared with EGP 1.7 billion in H1-13.
Meanwhile, standalone financial results for H1-14 mirrored EGP 1.1 billion net profit, compared with EGP 1.3 billion in the corresponding period a year earlier.