Telecom Egypt approves cash dividend

Shareholders in Telecom Egypt approved a 1.3 Egyptian pound ($0.22) cash dividend at a meeting on Tuesday, the firm said in a statement. The firm's 2010 net profit soared by eight per cent to 3.3 billion pounds. Shares in the landline monopoly rose 3.2 per cent while Egypt's benchmark share index inched up 0.03 per cent at 0916 GMT.