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MTN Nigeria to pay shareholders N3.50 interim dividend

MTN, 7 Nigerian banks sign N200bn medium-term loan facility

Wireless operator, MTN Nigeria Communications Plc said it would pay shareholders an interim dividend of N3.50 per share subject to deduction of withholding tax following the release of its half year 2020 financial results, which saw top line grow by N71.081 billion or 12.5% to N638.075 billion.

18.6% higher than the N2.95 it declared for the same period of last year, this year’s interim dividend makes it the second time MTN Nigeria will announce such since becoming a quoted company in May 2019.

Read also: MTNN half-year revenue rises, helped by data income, but soaring costs hurt profit

Shareholders whose names feature on the register of the company by 14th August will be eligible for the cash reward, the board of directors declared in an announcement note posted on the Nigerian Stock Exchange (NSE) website on Wednesday, signed by Company Secretary Uto Ukpanah.

‘On August 24, 2020, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at August 14, 2020, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank account,’ the document said.

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