MTN to pay GHc1.5bn in dividends to shareholders

Shareholders of MTN Ghana will soon be smiling to the bank as the company has announced dividend payment amounting to GHc 1.524 billion for the 2022 financial year.

In the company’s 2022 annual financial report, it stated that a gross final dividend of GHc0.124 per share for the period to 31 December 2022 has been recommended by the Board and subject to approval by shareholders.

In addition, the company is exploring the option for shareholders to choose between cash or share dividends as an alternative and elective form of shareholder return to a cash only dividend, subject to shareholder and regulatory approvals.

The number of ordinary shares in issue at the date of this declaration is 12,290,474,360.

Thursday, 22 June 2023 has been set as the dividend payment date, while the qualifying date is Friday, 19 May 2023. This implies that all shareholders registered in the books of Scancom PLC at close of business on Friday, 19 May 2023 qualify for the final dividend.

To be sure, an investor purchasing MTNGH shares before this date will be entitled to the final dividend. However, an investor buying MTNGH shares on or after Wednesday, 17 May 2023 will not be entitled to the final dividend.

On Thursday, 22 June 2023 the dividend will be transferred electronically to the bank accounts or mobile money wallets of shareholders who make use of these facilities.

Dividends amounting to GHS1,536 million (GHS0.125 per share) were paid in 2022 while in 2021, a total of GHc983.24 million, GHS0.08 per share was paid.

MTN Ghana, recorded a 42.7% year-on-year growth in profit in 2022 to ¢2.85 billion as its service revenue grew by 28.3% to ¢9.9 billion.

This was supported by good subscriber management amidst the national SIM re-registration programme, increased investment in the network and the diligent execution of commercial initiatives in voice, data and Mobile Money services.

It added 3.3 million subscribers to its subscriber base and invested ¢2.1 billion in total capital expenditure to support the modernisation of infrastructure, improve IT systems and expand network capacity and coverage across the nation.

Also, earnings before interest, tax, depreciation and amortization (EBITDA) increased by 30.9% to ¢5.6 billion.

In 2022, the company paid ¢3.7 billion in direct and indirect taxes. It also allocated ¢28.3 million on socio-economic initiatives.

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