Telecom Egypt says to pay $0.18 per share dividend

CAIRO, April 8 (Reuters) - State-run Telecom Egypt ETEL.CA (ETELq.L: Quote, Profile, Research) said on Tuesday it would pay a dividend of 1 Egyptian pound ($0.18) per share for 2007, up from 0.70 pounds the previous year.

The company, which has a monopoly on fixed-line phone service in the Arab country, said the dividend would be paid on April 24.

Shareholders on April 21 would be eligible for the dividend, Telecom Egypt said in a statement on the stock exchange Web site.

The company's net profit rose 4.4 percent to 2.534 billion pounds in 2007, driven by growth in internet and data services and sales of services to other operators.

Shares of the company closed down 0.34 percent at 20.50 pounds before the announcement. ($1 = 5.45 Egyptian pounds) (Writing by Will Rasmussen)