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MTN Dividends Payment Rises to N288 Billion in 2022

MTN Dividends Payment Rises to N288 Billion in 2022

MTN Nigerian Communication Plc has raised its dividends payment by N75bn from N212bn in 2021 to N288bn in 2022 full year, the regulatory financial filings of the company have shown.

According to the regulatory filing, the board of the company also gave a nod for a dividend payment of N10 per share to the distributable net income, bringing the total dividend for the year to N15.60 kobo, representing an increase of 18.9 per cent.

MTN said it was exploring a scrip dividend option as an alternative form of shareholder return to a cash dividend, subject to regulatory and shareholder approvals.

“We anticipate that once regulatory approvals have been received; there will be further shareholder communication ahead of the annual general meeting planned for April 2023,” the company added.

Recall that MTN Nigeria released its 2022 full-year results recently, with significant improvement across the top and bottom lines.

Its revenue rose to N2.012tn in the full year ended 31 December 2022; the first listed company to reach the landmark, indicating a 21.5 per cent increase over N1.65tn made as of December 2021. The company’s expenses grew by 21.2 per cent to N941.90bn in 2022 compared to N777.22bn in 2021.

 

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