Cairo – Mubasher: The ordinary general meeting (OGM) of Telecom Egypt (WE) has approved to pay a cash coupon of EGP 0.25 per share for 2019.

During the meeting, shareholders have approved a total EGP 426.76 million in cash dividends for 2019, while EGP 659.84 million have been allocated for employees, according to the company's disclosure to the Egyptian Exchange (EGX) on Monday.

Meanwhile, shareholders have decided to retain earnings of EGP 5.89 billion to next year.

It is noteworthy to mention that in 2019, the company saw a 33.44% year-on-year (YoY) profit hike to EGP 4.4 billion from EGP 3.3 billion in 2018.