Telecom Egypt Undecided On Dividend Distribution

Telecom Egypt Co. (ETEL.CA) said while the local business environment was stabilising, it was too early to say whether it would pay an interim dividend.

“For the time being we continue to operate in a turbulent environment so the first-quarter result is not the time to make a decision about distribution of dividends,” chief financial officer Hassan Helmy told Reuters on Monday.

Telecom Egypt’s shares were down 0.62 percent closing at EGP 12.92.