The board of directors of Telecom Egypt (TETL) proposed raising its dividend for 2020 to EGP 0.75 per share instead of EGP 0.50 per share, according to the company’s press release.

The dividend proposal will be discussed during Telecom Egypt’s ordinary general assembly meeting to be held on March 29th.

The telecom provider achieved a consolidated net profit of EGP 4.58 billion in 2020, compared to EGP 4.39 billion in 2019.

Telecom Egypt is an Egypt-based joint-stock company, which is engaged in the provision of public communications and associated products and services.

The company operates under the following segments: communications, marine cables, and infrastructure; internet services, as well as outsourcing services. It offers a range of fixed-line and retail telecommunications services, as well as wholesale telecommunications services.