Cairo – The board members of Telecom Egypt decided to raise the 2022 cash dividends to EGP 1.25 per share from EGP 0.75 per share.

The board’s recommendation is still subject to the approval of the next ordinary general meeting (OGM), according to a recent bourse filing.

Last year, the EGX-listed firm posted higher consolidated net profits after tax at EGP 9.18 billion, versus EGP 8.42 billion in 2021, including non-controlling equity.

Revenues enlarged to EGP 44.27 billion as of 31 December 2022 from EGP 37.08 billion a year earlier, while the earnings per share (EPS) went up to EGP 4.61 from EGP 4.34.

Meanwhile, the standalone net profits after tax hiked to EGP 7.34 billion in 2022 from EGP 6.95 billion in 2021.

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