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MTN Nigeria shares exit loss, as telco approves final dividend to shareholders



MTN claims innocence of tax offence

MTN Nigeria share rallied on Thursday, exiting the loss it suffered on Tuesday, following approval of its dividend payment at the Annual General Meeting of the telecommunications company, held on April 28, 2022.

Trading on the network provider had been unimpressive this week, with the share resuming the capital market flat at N213 on Monday, before it fell by 0.5% on Tuesday, as demand for the y’ello stock slumped.

After trading flat into Wednesday at N212 per share, MTN Nigeria stock rebounded to report that the company had approved N8.57kobo per share as final dividend payment to its shareholders for the 2021 period.

This surpassed the N5.90kobo the telecommunications company paid out as final dividend in the corresponding period of 2020. Note that MTN had initially approved N4.55kobo as interim dividend for last year.

Read also: MTN Nigeria, FIRS under probe over alleged N2.6trn tax evasion, abuse of power

The N8.57kobo final dividend payout will see the network provider disburse N174.53 billion to shareholders, bringing the total dividend for the period ended 2021 to N13.12kobo per share.

The improved dividend payment was enough to renew investors interest in MTN Nigeria share, resulting to 0.94% growth in value of the telecom firm’s shares held by investors, as the price of the asset rose to N214 per share on Thursday.

It was gathered that the final dividend would be paid to “shareholders whose names appear in the Company’s Register of Members at the close of business on Wednesday, 6 April 2022.”

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