MTN Nigeria to Pay Shareholders N60bn August 16

By Dipo Olowookere

The sum of N60 billion would be shared to holders of MTN Nigeria Communications Plc stocks, the leading telco in the country has announced.

In a disclosure last week, the firm said the amount was a cash reward for the half year ended June 30, 2019 and it represents N2.95k per share.

According to the notice, the payment would be made on Friday, August 16, 2019 only to shareholders whose name appear on names appear in the register of members as at the close of business on Monday, August 8, 2019.

Last week, MTN Nigeria released its financial statements for the first half of this year. It was the first results after its listing on the Nigerian Stock Exchange (NSE) by introduction.

The firm impressed investors with good performance as its profit before tax increased by 30.86 percent to N190.4 billion from N108.4 billion achieved in H1 2018, while the profit after tax improved by 34.79 percent to N98.9 billion from N73.4 billion, with the revenue rising by 12.12 percent to N567 billion from N505.7 billion and the earnings per share appreciating by 34.79 percent to N4.86 from N3.61.

In the notice announcing the payment of interim dividend to shareholders, MTN Nigeria said the N2.95 per 2 kobo per share interim dividend was subject to appropriate withholding tax and approval.

It further said the cash would be paid electronically to shareholders who have completed the e-dividend registration and mandated the registrar, United Securities Limited, to pay their dividends directly into their bank accounts.

The telco advised shareholders who are yet to complete the e-dividend registration to download the registrar’s e-dividend mandate activation form, complete and submit to the registrar or their respective banks.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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