Arab Finance: Telecom Egypt’s (ETEL) ordinary general meeting (OGM) has approved disbursing EGP 1.5 per share in cash dividends to shareholders for 2023, a statement showed.
The firm reported earlier a 24.9% year-on-year (YoY) increase in consolidated net profits attributable to the holding company in 2023 to EGP 11.465 billion, compared to EGP 9.182 billion.
Telecom Egypt is the first integrated telecom operator in Egypt and is one of the region’s largest operators of subsea cables.
The Cairo-based company is listed on the EGX, and it operates in the sectors of communications, marine cables, infrastructure, internet services, and outsourcing services. It offers a range of fixed-line and retail telecommunications services, as well as wholesale telecommunications services.