ETEL
Cairo – Mubasher: Telecom Egypt’s board recommended cash dividend distributions to shareholders of EGP 1.7 billion for 2017.
The board also proposed distributing a cash dividend of EGP 1 per share for 2017 and retaining around EGP 520.6 million for 2019, the Egyptian telecom company said in a filing to the Egyptian Exchange (EGX) on Monday.
Telecom Egypt’s capital amounts to EGP 17.07 billion distributed over 1.7 billion shares at a par value of EGP 10 per share.
Given that Telecom Egypt also reported an 18% year-on-year surge in consolidated profits for 2017, as net profit amounted to EGP 3.2 billion last year, compared to EGP 2.7 in 2016.