MTN Nigeria Communications Plc (NGX: MTNN) has created 641,047,053 new ordinary shares of 2 kobo each at N232.68 per share to be allotted to shareholders who had elected to receive their FY 2022 final dividends in the form of shares.
In a publication on Tuesday, MTNN stated that under its script dividend plan, 5,192 shareholders elected to receive their FY 2022 final dividends in the form of shares. To meet this request, MTNN has created 641.04 million new shares, bringing the total issued shares of the company to 20,995,560,103.
MTNN announced and paid a final dividend of N10 per 2 kobo shares for the 2022 financial year ended 31 December 2022.
In a publication in April 2023, MTNN announced that for its Script Dividend, the reference share price for the new shares to be issued to shareholders under the plan shall be N232.68 per share.
A scrip dividend is a dividend payment to shareholders that is made in shares rather than as cash.
In the publication signed by Uto Ukpanah, the Company Secretary on Tuesday seen by Investogist, MTNN stated that “in line with the regulatory guidelines, the Central Securities Clearing System (CSCS) accounts of qualified shareholders will be credited in the coming days.”
The telecommunications giant has announced a N5.60 interim dividend for the half year period ended 30 June, 2023.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur