MTN Nigeria proposes final dividend of N8.57 per share

For the fiscal year ending December 31, 2021, MTN Nigeria Plc (MTN) has proposed a final dividend of N8.57 per 2 kobo ordinary share.  

The telecommunications firm stated that this final dividend brings the total dividend to N13.12 kobo, after paying N4.55 kobo on August 20, 2021.  

The proposed dividend is subject to the relevant withholding tax, with an April 6, 2022 qualifying date. 

MTN Nig Plc also reported that in its 2021 FY Audited Financial Statement, revenue increased by 22.90 percent from N1.35 trillion to N1.65 trillion.   

According to the announcement, the company’s net profit increased by 45.5 percent to N298.65 billion from N205.21 billion in the same period of 2020. 

Voice calls and data subscriptions account for the majority of the company’s income; however, throughout the time, clients spent more on data subscriptions, raising the revenue line by 55.31 percent, while revenue from voice calls increased by 6.96 percent. 

The customer business unit, the Enterprise business unit, and the Wholesale business unit are the three reportable business segments for the company. The client business segment brought in N1.46 trillion, accounting for 88% of total income. The enterprise business segment contributed N148 billion in income, while the wholesale business unit brought in N47.67 billion.  

Voice calls and data subscriptions brought in N819 billion and N516 billion, respectively, compared to N766 billion and N332 billion in 2020. 

Interconnect and roaming revenue increased by 26.74 percent year on year to N168 billion. 

Advertisement, sponsorship, and sales promotion expenses increased by 44%, implying that aggressive marketing contributed to the increase in sales. 

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Interconnect expenses and discount & commissions, which increased by 13.43 percent and 14.11 percent, respectively, are other expenditure line items shown in the revenue statement. 

According to the financial statement, taxation for the period amounted to roughly N138 billion, up by over 47%. 

The company’s net assets climbed by N86.60 billion from N178.39 billion in December 2020 to N264.98 billion in the 2021 fiscal year, representing a 45.53 percent growth from N205.21 billion to N298.65 billion. Total assets, on the other hand, remained at N2.26 trillion. 

As of Friday, January 28, 2021, MTN Nig Plc is trading at N190.00 per share, with a market value of N3.87 trillion. The company’s share price has dropped by 3.55 percent in the first half of the year. 

Ordinary shareholders whose names appear on the Register of Members as of Thursday, April 7, 2022, and who have completed the e-dividend registration and mandated their Registrar to pay their dividends directly into their bank accounts will receive the N174.44 billion dividend electronically on Thursday, April 28, 2022.  

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