MTN Nigeria Set To Pay A Final Dividend Of N174.4 Billion To Shareholders

MTN Nigeria Communications PLC (MTN), whose revenue is expected to reach a new high of N1.7 trillion in 2021, has declared a final dividend of N8.57 per share, amounting to a payout of N174.4 billion.

In July 2021, it declared an N4.55 interim dividend, bringing its total dividend per share for the year to N13.12.

This means that stockholders will receive 39.6 percent more cash than they did a year ago, when N9.40 was paid as total dividend per share.

The newly announced dividend is subject to withholding tax and will be paid to shareholders whose names appear on the register of members as of the close of business on April 6, according to MTNN in a note to the Nigerian Exchange Limited on Friday.

The Nigerian operation of the South African-owned MTN Group had a total revenue of N1.7 trillion for the fiscal year 2021, after reaching 34.3 million active data subscribers.

In November 2021, it made 575 million of its shares available to the public for the first time at N169 per unit.

The shareholder register will be closed on April 7, ahead of the dividend payment on April 28.

Investors who want to take advantage of the incentive must own MTNN shares before the qualification date, which is April 6.

“Shareholders with unclaimed dividend warrants and share certificates that are yet to be presented for payment or returned for validation are advised to complete the e-dividend registration or contact the registrar,” according to the note.