The Board of Directors of MTN Nigeria Communications Plc (NGX: MTNN) has proposed a final dividend of N10 per 2 kobo ordinary share, subject to appropriate withholding tax, for the period ended 31 December 2022.
The qualification date for the dividend is 27 March 2023, while the payment date is 20 April 2023.
If approved, the dividend which amounts to N203.55 billion will be paid electronically to qualified shareholders who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.
An interim dividend of N5.60 kobo per ordinary share was paid for the period ended 30 June 2022.
If the proposed final dividend is approved, the total dividend for the financial year ended 31 December 2022 will be N15.60 per share of 2 kobo each, subject to appropriate withholding tax.
The company paid a final dividend of N8.57 per share valued at N174.44 billion for 2021 financial year in addition to an interim dividend of N4.55 for the period ended 30 June 2021.
MTN Nigeria Communications Plc grew its revenue by 21.6% to more than N2 trillion in the 2022, and its profit for the year by 21.1% to over N360 billion, according to the audited consolidated and separate financial statements for the year ended 31 December 2022 released by the company. The first listed company on the Nigerian Exchange to report N2 trillion revenue.
The proposed final dividend represents 56.3% of the company’s profit after tax for the period.
On Friday, MTNN shares closed flat at N237.9 per share. YTD the share price is up by 10.65%.
MTNN has 20,354,513,050 outstanding shares, and a market capitalization of N4.84 trillion as at close of trading on Friday.
- Read also: List of Dividends announced in 2022, qualification and payment dates
- List of Dividends announced in 2021, qualification and payment dates
Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Activation Form, complete and submit to the Registrar or their respective Banks.
The company’s registrar is Coronation Registrars Ltd. The e-dividend mandate form can be downloaded or filled online on the registrar’s website or the Securities and Exchange Commission (SEC) website.
The Registrar’s address is 10, Amodu Ojikutu Street, Victoria Island, Lagos, Nigeria. Tel.: 012272570, email: customercare@coronationregistrars.com
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.