Vodafone Egypt Offers TE Dividends Worth 25 Piasters/Share Next Week

Vodafone Egypt has decided to distribute 25 piasters per share for Telecom Egypt company with total dividend up EGP 92.5,000 in cash dividends for the results of the fiscal year which ended in March 31 2013.

Vodafone said in a statement obtained by Amwal Al Ghad the distribution for the shares’ holders which will end in July 25.

Telecom Egypt has around 370.000 shares in Vodafone Egypt with minority stake of 45%.

Vodafone Egypt, has commented on the distributions dividend “routine”according to governmental procedures, pointing out that the only contributors in the company are Vodafone Global with 55% share  and Telecom Egypt with 45% share.

The revenues of Vodafone Egypt reached about EGP 14 billion (£ 1.3 billion).

The financial reports of Vodafone UK have revealed that the profits of Vodafone Egypt before taxes and benefits up EGP 9.17 billion (£ 568 million ) achieving an increase compared to the last year which reached £ 522 million.

The indexes of Information and Communication Technology Ministry (MCIT), have revealed that the number of Vodafone’s subscribers declined around 42.000 subscribers by the end of 2013, so as to capture 40.6% from mobile phone market and ranked first as the most operator seizes subscribers in the local market.