Cairo – Mubasher: The ordinary general meeting (OGM) of Telecom Egypt approved the proposed cash dividends for 2020.
The telecom operator will pay shareholders EGP 0.75 per share or a total of EGP 1.28 billion in cash dividends for last year’s earnings, the company said in a bourse disclosure on Monday.
Last week, the board of directors decided to raise its proposed dividend for 2020 by 50% to EGP 0.75 per share instead of EGP 0.50.
In 2020, Telecom Egypt’s net profits increased by 10% year-on-year (YoY) to EGP 4.9 billion.
