MTN Nigeria Communications Plc, has approved the payment of N9.40 final dividend per share to shareholders for the year ended December 31, 2020.
The dividend represents 18.7 per cent increase from 2019.
MTN Nigeria’s Chairman, Ernest Ndukwe noted that “Despite the challenging operating conditions during the year, I am happy to report that our company recorded improved performance across all key metrics, creating the shareholder value achieved. This performance demonstrates the success of cost optimisation measures initiated during the year, the strong operational execution of our people and resilience in our business.
“Following from our good operating results and in line with our dividend policy, the Board has recommended a final dividend of N5.90 per share to be paid out of distributable net income. This brings the total dividend for the year to N9.40 kobo per share, representing an increase of 18.7 per cent.’’
The payment was approved at the Annual General Meeting (AGM) that was held recently at MTN Plaza, Ikoyi.
Acccording to its financial report, in the 2020 financial year, MTN Nigeria improved its earnings before interest, tax, depreciation, and amortisation by 9.7 per cent to N685.7 billion, while the pre-tax profit grew by 2.6 per cent to N298.9 billion and profit after tax rose by 0.9 per cent to N205.2 billion..
Chief Executive Officer, MTN Nigeria, Karl Toriola, said: “It’s a great starting point and we will continue to be dynamic and agile to deliver value for the future for our stakeholders, whilst aligning our priorities with national interests.”