Cairo - Mubasher: The ordinary general meeting (OGM) of Telecom Egypt (TE) has approved on Tuesday the distribution of cash dividends to shareholders at EGP 1 per share.
The company said in a statement to the Egyptian Exchange (EGX) on Tuesday that the OGM has approved the recommendation of the board of directors (BOD) to distribute cash dividends at a total value of EGP 1.7 billion.
The OGM has also approved the BOD report for 2016, as well as the annual financial statements and the auditor’s report.
The company’s annual profits declined by 10.7% last year to EGP 2.67 billion, down from EGP 2.99 billion in 2015.
