Egypt's Suez Cement raises dividend

Suez Cement, Egypt's biggest listed cement maker by market value, will pay a cash dividend of 2.65 Egyptian pounds ($0.38) per share, it said in a statement published on the bourse on Tuesday.

The company, which lists Italcementi Group as its main shareholder, said it would make the payment in two phases. One pound per share will be distributed in April, and 1.65 pounds per share in September.

Last year, Suez Cement paid a cash dividend of 1.65 pounds per share, according to Thomson Reuters data. Shares in Suez Cement were down 10 percent at 36 pounds at 1010 GMT.