Telecom Egypt plans dividend on deferred profits

Landline monopoly Telecom Egypt plans to issue a dividend of 30 piasters per share on deferred profits, the company said in a statement via the stock exchange on Tuesday.

The dividend would be issued in addition to any regular pay-out on 2011 earnings.

Telecom Egypt has spent years trying to expand beyond voice and data services into mobile telecoms using its substantial cash pile, but its plans have not borne fruit for now.

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