Cairo – Mubasher: Telecom Egypt postponed the ordinary general meeting to 30 March 2015.
The orindary general meeting was supposed to be held on 23 March in order to consier 2015 financial statements and distribution of cash dividends at EGP0.75 a share.
The rescheduled ordinary meeting will look into the same agenda as well as a new item related to the settlement of some disputes between the company and third parties.
Earlier, the board recommended increasing cash dividends for 2015 to EGP 0.75 a share, rather than EGP 0.45, along with moving part of the general reserve to retained earnings.
In 2015, the telecom company's net profits rose 111.2% year-on-year to EGP 2.99 billion from EGP 1.41 billion, according to the consolidated statements.
