Business News of Friday, 19 October 2018
Shareholders of mobile telecom giant MTN Ghana will receive their first dividend on 21 November 2018, the telco said in a statement.
Shareholders will enjoy a dividend of GHS0.02 per share for the period to 30 September 2018.
“Declaration of interim ordinary dividend notice is hereby given that a gross interim dividend of GHS0.02 per share for the period to 30 September 2018 has been declared.
“This is subject to deduction of appropriate taxes,” the statement said, adding: “An investor buying MTNGH shares on or after Wednesday, 7 November 2018 will not be entitled to the interim dividend”.
The statement said on Wednesday, 21 November 2018, “the dividend will be transferred electronically to the bank accounts or Mobile Money wallets of certificated shareholders who make use of these facilities.”
Special pre-IPO dividend declaration
MTN Ghana said following the successful completion of its IPO, a gross dividend of GHS1,067 million was declared on 31 August 2018 payable to pre-IPO shareholders.
As of 30 September 2018, the company was awaiting the Bank of Ghana’s approval to pay shareholders. On 12 October 2018, the Bank of Ghana granted approval clearing the way for the payment of the dividend.
MTN Ghana delivered a strong performance driven by solid service revenue growth of 22.9%.
Data revenue increased by 30.9% year-on-year while digital revenue expanded by more than 28% driven by MoMo, which increased its contribution to revenue to 16%.
The telco recorded a revenue of GHS3 billion and a profit before tax of over GHS800 million for the first nine months of the year.