The final dividend of N174.44 billion, or N8.75 per share, has been authorized by MTN Nigeria Communication Plc’s shareholders.
As a result, the company’s total dividend payment for the year that concluded on December 31, 2021, was N13.12 per share. In July 2021, it announced an interim dividend of N4.55 per share.
At the company’s annual general meeting (AGM) in Lagos, the shareholders approved the move.
Speaking to shareholders at the meeting, MTN Nigeria Chairman Dr. Ernest Ndukwe stated that after successfully completing its public offering that allowed Nigerians to purchase shares, the company now plans to diversify its shareholder base by making a number of offers that would essentially cut MTN Group’s ownership stake in the Nigerian subsidiary to 65 percent.
In keeping with our Ambition 2025 commitment to shared value, there was no better way for us to celebrate our 20th anniversary than by providing more Nigerians with the chance to take part in our future success. In November 2021, we started an offer to sell the 575 million shares that the MTN Group owned in MTN Nigeria Communications Plc (the “Company”).
A new chapter in MTN Nigeria’s history began with the successful public offering. Through a series of offers, we hope to further broaden our shareholder base and eventually lower the MTN Group’s ownership stake in the company to 65%. Nigerians will have greater opportunity to participate as a result,” he said.
He pointed out that, in spite of the impact of lower new subscriber enrollment brought on by the year-round restrictions related to the National Identification Number (NIN) SIM data verification project, the company saw increased performance in 2021 across all important financial measures.
While earnings before interest, tax, depreciation, and amortisation (EBITDA) and profit before tax (PBT) increased by 27.9 percent and 46.1 percent to N877.1 billion and N436.7 billion, respectively, he said, “service revenue increased by 23.3 percent to N1.7 trillion; voice revenue grew by 8.4 percent due to higher usage in our active SIM base; and data revenue increased by 55.3%.”
Karl Olutokun Toriola, CEO of MTN Nigeria, stated: “We are committed to expanding upon the successful foundation established in 2021. Our Q4 2021 return to positive subscriber net additions lays a strong foundation for growth in 2022 as we increase gross connections through our customer value management programs and rural connectivity drive.
