MTN Nigeria Shareholders to Receive N4.97 Dividend May 19

MTN MoMo Nigeria

By Dipo Olowookere

Leading telecommunications company, MTN Nigeria Communications Plc, has announced the payment of N4.97 as final dividend for the year ended December 31, 2019.

Business Post reports that earlier in the fiscal year, the firm, which joined the Nigerian Stock Exchange (NSE) last May, paid an interim dividend of N2.95, bringing its total dividend to N7.92 per share.

MTN Nigeria, in a statement yesterday, said the N4.97 per 2 kobo ordinary share dividend was subject to appropriate withholding tax and approval by shareholders.

This approval would be obtained at the Annual General Meeting (AGM) scheduled for May 8, 2020 at the Eko Hotel and Suites, Victoria Island, Lagos by 11am.

On May 19, 2020, the dividend will be paid electronically to shareholders whose names appear on the register of members as at April 17, 2020 and who have completed the e-dividend registration and mandated the registrar to pay their dividends directly into their bank accounts.

MTN Nigeria further stated in the disclosure that the register of shareholders will be closed from April 20, 2020 and advised those 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, United Securities Limited, or their respective banks.

It also said shareholders with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment or returned for validation to complete the e-dividend registration or contact the registrar.

Business Post reports that in the 2019 FY, MTN Nigeria grew its earnings per share by 38.8 percent to N9.90, while the pre-tax profit rose by 31.1 percent to N290.1 billion, with revenue jumping by 12.6 percent to N1.2 trillion.

Its mobile subscribers increased by 6.1million to 64.3 million, while its active data users grew by 6.5 million to 25.2 million.

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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