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MTN shareholders to share N174 billion final dividend



MTN Nigeria Faces N1.48BN Lawsuits Over Electrocution, Others

The Board of MTN Nigeria Plc (MTNN) has proposed a final dividend of N8.57 per 2 kobo ordinary shares for the year ended 31st December 2021.

Based on the 20,354,513,050 outstanding shares of the telecoms company, the dividend amounts to N174.44 billion.

The telecommunications company disclosed that this final dividend sums up the total dividend to N13.12 kobo, having paid N4.55 kobo on the 20th of August 2021. Hence the total dividend for the year under review is N267.05 billion.

In a disclosure obtained by Business Metrics, the proposed dividend is subject to appropriate withholding tax, with a qualification date of April 6, 2022.

MTN said that the dividend will be disbursed electronically on Thursday, April 28, 2022 to ordinary shareholders whose names appear on the Register of Members as at Thursday, April 7, 2022, and who have completed the e-dividend registration and mandated their Registrar to pay their dividends directly into their bank accounts.

The company’s registrar is Coronation Registrars Limited. The e-dividend mandate form can be downloaded or filled online on the registrar’s website.

This answers the question raised by many new shareholders who participated in the 575 million shares sale last year and are wondering if they would share from the N174.44 billion dividend.

Karl Toriola, chief executive officer of MTN Nigeria said, “In line with our dividend policy, the board has proposed a final dividend of N8.57 kobo per share to be paid out of distributable net income. This brings the total dividend for the year to N13.12 kobo per share, representing an increase of 39.6%.”

Ambrose Omordion, a stockbroker and chief research analyst at Investdata Consulting Limited explained that once the allotment of the shares of the company is done and the e-dividend mandate form is completed by any shareholder before the April 6 deadline, the shareholder would benefit from the dividend.

After releasing its audited financial results, MTN Nigeria Plc closed last week with a market capitalization of N3.87 trillion with its share trading at N190.00 per unit.

In case you missed this:

This Newspaper earlier reported that MTN Nig Plc had earlier released its Audited financial results for the year ended 31st December 2021.

Its profit after tax grew by 45.5 per cent to N298 billion, just as Earnings per share printed N14.67 as against N10.08 recorded in the corresponding period of last year.

Voice call and Data Subscription raked in N819 billion and N516 billion, respectively, compared with N766 billion and N332 billion in the corresponding period of 2020.

The report shows better figures across major metrics in 2021 compared to the comparative year of 2022.

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