MTN Nigeria to pay shareholders final dividend of N174.4 billion after record turnover

Telecom giant MTN Nigeria Communications PLC (MTNN), whose revenue touched a new high of N1.7 trillion in 2021 announced a final dividend of N8.57 per share translating to a payout of N174.4 billion.

It had declared a N4.55 interim dividend in July 2021, making its total dividend per share for the year stand at N13.12.

That puts the company’s stockholders on course to receive 39.6 per cent more of the cash reward they got a year earlier when N9.40 was paid as total dividend per share.

The newly announced dividend is subject to appropriate withholding tax and will be paid to shareholders whose names appear on the register of members as at close of business on April 6, MTNN said in a note to the Nigerian Exchange Limited on Friday.

The Nigerian operation of South African-owned MTN Group had a turnover in the sum of N1.7 trillion for full-year 2021, after the number of its active data subscribers hit 34.3 million.

It offered 575 million of its shares available to the public for the first time at N169 per unit in November 2021.

The register of shareholders will be closed on 7 April, ahead of the dividend payment on 28 April.

Investors desiring to benefit from the incentive must own MTNN shares ahead of the qualification date which is 6 April.

“Shareholders with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment or returned for validation are advised to complete the e-dividend registration or contact the registrar,” the note said.