High dividend yields in Egyptian stocks have also helped attract investment interest. EGPT has a 7.68% 12-month yield.
“Dividend-paying stocks are definitely providing an attractive entry point for some investors now,” Hany Genena, head of research at Pharos Holding, said in the article. “The absence of investments over the last three years has forced companies to settle debt and return cash to their shareholders until the political and economic outlook becomes clear.”
However, Egypt’s economy is still in tatters after the popular uprising in 2011 forced out President Hosni Mubarak, with growth at about 2% for a third year, its worst slump in two decades. [Political Violence Ignites Sell-Off in Egypt ETF]
Market Vectors Egypt ETF
For more information on Egypt, visit our Egypt category.
Max Chen contributed to this article.