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MTN Nigeria pays N174 billion dividend to shareholders

MTN Nigeria says it has paid N174.54 billion in dividend to its shareholders.

In a statement issued on Thursday, MTN Nigeria said the resolution was reached at its annual general meeting, held on Thursday in Lagos.

MTN Nigeria said the dividend payment of N8.57 kobo per every 2 kobo ordinary share were paid to shareholders whose names appear on the register of members as at close of business on April 6.

“A dividend payment in the total sum of N174.53bn (One hundred and seventy-four billion, five hundred and thirty million Naira) which translates to N8.57 Kobo per every 2 Kobo ordinary share; to shareholders whose names appear in the Company’s Register of Members at the close of business on Wednesday, 6 April 2022 (bringing the local dividend for the year ended 31 December 2021 to N13.12, subject to withholding tax, be and is hereby approved,” the statement reads.

“The Audited Financial Statements for the year ended 31 December 2021 together with the Reports of the Directors, Auditors and Audit Committee as laid before Members at the Annual General meeting be and are hereby received.”

Last year, MTN Group sold up to 575 million shares held in MTN Nigeria at N169 per share to retail investors.

The offer was oversubscribed by 139 percent — culminating in 661.25 million alloted shares.

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