* Dividend to be paid on Jan. 27
* Shares rise 2.8 percent
(Recasts, adds analyst comment, share price)
CAIRO, Jan 5 Egyptian mobile operator Mobinil
EMOB.CA said on Wednesday its dividend for the first nine
months of 2010 would nearly match its payment for all of 2009,
giving its shares a boost.
The company, also known as the Egyptian Company for Mobile
Services, will pay a dividend of 9.19 Egyptian pounds ($1.59)
per share on Jan. 27 to shareholders as of Jan. 23, it said in a
statement to the country's stock exchange.
CI Capital analyst Mohamed Hamdy said the dividend was
higher than expected. The research house had predicted Mobinil
would pay just 7.80 pounds per share for all of 2010, after
paying 9.50 pounds per share for 2009.
He added that a decrease had been expected, "due to the huge
short-term financial obligations on (Mobinil) to finance 3G
installments and capex (capital expenditure)."
Mobinil shares rose 2.8 percent, outpacing the main index
.EGX30 which was up 0.4 percent at 0942 GMT.
The company's last dividend payment, for the second half of
2009, was 7.50 Egyptian pounds per share. [ID:nLDE6291J9]
(Reporting by Alexander Dziadosz; Editing by David Holmes)
($1=5.792 Egyptian Pound)