REG - Telecom Egypt S.A.E - Interim Dividend Statement <Origin Href="QuoteRef">ETEL.CA</Origin>

Telecom Egypt Co SAEAnnouncement

29/10/2014 12:31

RNS Number : 0181P
Telecom Egypt S.A.E
13 August 2014
Telecom Egypt Will Propose an Interim Dividend of US 5 cent per ordinary share at the Ordinary General Assembly
Cairo, August 13, 2014: Telecom Egypt (te) (Ticker:ETEL.CA; TEEG.LN), today announced that its executive management proposed to the Board of Directors a distribution of an interim cash dividend under the account of profits for the year ending 31 December 2014.
Given the company's significant financial performance achieved during the six month period ending 30 June, 2014 and strong net cash position, te's management proposed a 5 Cent per ordinary share interim cash dividend to the company's Board of Directors, under the account of profits for the year ending 31st of December 2014.
Acceptance had been granted by the Board of Directors to submit the proposed interim dividend to the Ordinary General Assembly of Telecom Egypt for shareholder approval, scheduled on 8 September 2014.
This equates to a distribution to investors of US$ 85,353,580 and a proposed Employees' Share in profit of US$ 9,483,731.
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For Further Information:
Investor Relations Contacts
Mohamed Kamal
General Manager of Investor Relations
Tel: +202 3131 5219
Fax: +202 3131 6115
E-mail: investor.relations@te.eg
Notes to Editors:
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Within this statement, we may make forward-looking statements regarding future events or the future performance of the Company. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved. You should be aware that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. When relying on forward-looking statements, you shouldcarefully consider the political, economic, social and legal environment in which Telecom Egypt operates. Such forward-looking statements speak only as of the time of this release today. Accordingly, Telecom Egypt does not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise other than as required by applicable laws, the Listing Rules or Prospectus Rules of the United Kingdom Listing Authority, the Egyptian Financial Supervisory Authority or The Egyptian Exchange. The documents filed from time to time with these authorities may identify important factors that could cause actual results to differ materially from those contained in any forward-looking statements.
About Telecom Egypt:
..
Telecom Egypt (te), Egypt's incumbent telecommunications operator, started its operations in 1854 with the first telegraph line in Egypt. Then it was corporatized in 1998 to replace the former Arab Republic of Egypt National Telecommunication Organization (ARENTO). The Company is the largest provider of fixed-line services in the Middle East and Africa with 6.7 million subscribers as at 30 June 2014.
te provides retail telecommunication services including access, local, long distance and international voice, Internet and data, and other services. The company also provides wholesale services including bandwidth capacity leasing to ISPs, and national and international interconnection services. te's services also include the provision of narrowband and broadband internet access through its subsidiary TE Data. TE Data has active operations in Egypt and Jordan.
te currently participates in the mobile segment in Egypt by providing mobile interconnectivity through its current, increased 44.95% holding in Vodafone Egypt, one of the three existing Egyptian mobile operators.
TE's shares and GDRs (Ticker: ETEL.CA; TEEG.LN) are traded on The Egyptian Exchange and the London Stock Exchange.

This information is provided by RNS
The company news service from the London Stock Exchange
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