Telecom Egypt (TE) Shareholders approved interim dividends under the account of profits for the fiscal year 2014 of EGP 0.36 ($0.05) per share , in addition to a second proposed dividend of EGP 0.20 , with total dividends for the fiscal year ended 31 December, 2014 shall be EGP 0.56 .

Meanwhile, shareholders approved fixed assets disposals of the company's land plots as follows: to dispose-off all lands acquired and added before 1998 by an amount of EGP 4.8 million, in addition to, according to what had been noted in the Company's fixed assets register, there is a land duplicated by an amount of EGP 10,257,000 and need to be eliminated from the company's accounting book.

TE, in which the government owns an 80%, posted net profits of EGP 2.03 billion ($266 million) for 2014 compared with EGP 2.96 billion for 2013.

The company capitalised at EGP 17.1 billion, divided into 1.71 billion shares at EGP 10 par value each.