MTN Nigeria Plc approves FY 2020 dividend pay-out of N120.09 billion to shareholders.

The Board of Directors of MTN Nigeria Plc has approved the payment of N120.09 billion to the shareholders of the company who currently hold the 20,354,513,050 fully paid ordinary shares of the company.

This disclosure is part of the resolutions passed at the recently concluded Annual General Meeting of the company, held on the 7th of June, 2021.

According to the notice: ‘’A dividend payment in the total sum of N120,091,626,955.00 (One hundred and twenty billion ninety one million six hundred and twenty six thousand nine hundred and ninety five Naira) which translates to N5.90Kobo per every 2 kobo ordinary share; to shareholders whose names appear in the Company’s Register of Members at the close of business on Tuesday, May 4, 2021 (bringing total dividend for the year ended 31st December 2020 to N9.40), subject to withholding tax, be and is hereby approved.

Other resolutions reached at the Annual General Meeting include;

  • The appointment of Ms. Tsholofelo Molefe, Dr. Ernest Ndukwe, Messrs. Rhidwaan Gasant, Ralph Mupita and Jens Schulte-Bockum into the company’s Board were reviewed and approved.
  • The remuneration of the Board Chairman for the year ending 31st Decemeber 2021, was fixed at N28,920,000/
  • Non-Executive Directors fees for the year ending were pegged at N16,472,000.
  • The firm was authorized to establish an Equity Shelf Programme for the purpose of facilitating offers for the sale of shares in the company by MTN International (Mauritius)

What you should know:

  • MTN Nigeria Plc had earlier declared an all-time highest revenue  by a listed Nigerian entity for FY 2020

For more information about the disclosure, click HERE.


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