Airtel Africa Plc (NGX: AIRTELAFRI) has confirmed the default currency, exchange rates, and options on currency election for the proposed interim dividend of 2.38 US cents recommended by the Board.
The dividend is payable on 15 December 2023 to shareholders whose names appear on the register at of close of business on 10 November 2023.
The last date to trade shares in order to be entitled to the dividend is today, 8 November 2023.
The following currency exchange rate will be applicable in the determination of the final dividend payment to any shareholders that qualify for and have elected to receive the final dividend payment:
- 1 USD = 858.24 Nigerian naira
- 1 USD = 0.8190 GB pounds
At this exchange rate, the dividend will amount to N20.43 per share.
On Tuesday, the equity price of Airtel Africa closed at flat N1,790.00 per share. The dividend yield at this current price will be 1.14%. This yield will be close to zero or negative when buy charges are taken into consideration.
According to the company the exchange rate for the Nigerian naira or GB pounds amounts payable was determined by reference to the exchange rates applicable to the U.S. dollar available on 10 November 2023.
Arrangements for Shareholders that hold their shares on the Nigerian Exchange Limited (NGX).
- Shareholders that hold their shares on the Nigerian Exchange Limited may elect to receive their entire dividend payment in Nigerian naira or U.S. dollars.
- Partial elections are not permissible.
- Holders electing to receive a dividend in U.S. dollars should complete the Currency Election Form and return to Coronation Registrars Limited or email to eforms@coronationregistrars.com.
- Shareholders holding their shares on the NGX who do not indicate their currency of choice before (close of business) 27 November 2023 will receive their dividends in Nigerian naira.
- The closing date for the dividend currency election to the Company’s Registrars Coronation Registrars Limited in Nigeria is (close of business) 27 November 2023
Arrangements for Shareholders that hold their shares on the London Stock Exchange (LSE):
- Shareholders that hold their shares on the London Stock Exchange may elect to receive their entire dividend payment in GB pounds or U.S. dollars.
- CREST participants can elect to receive their entire dividend payment via CREST.
- Partial elections are not permissible.
- Holders electing to receive a dividend should specify a choice of currency by completing the Currency Election Form and return to Computershare Investor Services plc.
- Shareholders holding their shares on the LSE who do not indicate their currency of choice before (close of business) 27 November 2023 will receive their dividends in U.S. dollars.
- The closing date for the dividend currency election to the Company’s Registrars Computershare Investor Services plc in the UK is (close of business) 27 November 2023.
- Currency election forms can be obtained by contacting the Company’s Registrars, Computershare Investor Services plc, on the Company’s dedicated telephone line: +44 (0)370 7030027
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.