Pioneers Holding (PIOH) dropped to the lowest level in a week after Egypt’s financial services company said it won’t pay a dividend for 2010.
The shares fell 2.6 percent to 2.24 Egyptian pounds, the lowest intraday level since May 2, at 1:50 p.m. in Cairo. The benchmark EGX 30 Index (EGX30) declined 1.4 percent.
Pioneers paid a 0.05 pound per share dividend in May 2010 and 0.30 pound a share in October 2009, according to data compiled by Bloomberg.
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