CAIRO, 5 July 2004 — Shares in Egypt’s Al Watany Bank (AWB) surged more than five percent yesterday on news it would pay a dividend in shares on an otherwise quiet Egyptian bourse. An AWB spokeswoman said the bank would issue 26 shares for every 100 to holders of the stock on the July 15. The stock last traded up 0.55 Egyptian pounds ($0.09) at 11.24 pounds and officially closed at 11.17 pounds. “It really helped the stock to move up,” said Mohamed Radwan, institutional sales trader at Delta Securities. But there was little movement in the market overall. The benchmark Hermes index nudged up 30.26 points or 0.2 percent to 14,496.55 points, while the broader CIBC index ended up 0.32 points or 0.3 percent at 93.65 points.