OTMT To Pay EGP 1.05 Dividends Amid Mobinil Sale, Net Profits Hit EGP 4.56 Bln
Published Tuesday, 12 June 2012 13:47 | Written by Amwal Al Ghad
Egypt's Orascom Telecom Media and Technology (OTMT.CA) said on Tuesday it would distribute a 1.05 Egyptian pound ($0.17) per share dividend following the sale of its main asset, Egyptian Company for Mobile Services – Mobinil (EMOB.CA).
OTMT was formed in November from assets controlled by Egyptian businessman Naguib Sawiris after he sold most of his global telecom interests to Russia's Vimpelcom.
The company last month sold its stake in Mobinil to France Telecom, netting it about $1 billion.
According to Reuters, OTMT said it made a net profit of 4.56 billion Egyptian pounds from its establishment in November until June 7, 2012, and had retained earnings of 1.74 million pounds from before its formation.
Most Popular »
- Japan's ambassador discusses joint oil projects with Egypt's El-Molla
- Dresser-Rand provides three SGT-400 gas turbines for Egypt's Zohr gas field
- US election: Trump submits plan for first 100 days
- US election poll tracker: Who is ahead - Clinton or Trump?
- Trump uses policy speech to attack media, promises to sue accusers