MTN Ghana to pay ¢2.316bn as dividend to shareholders

Shareholders of MTN Ghana have approved a total dividend of GH? 2.31bn for the 2023 financial year.

This follows the recommendation of the Board for a final dividend of GH? 0.175 per0. share to reflect the robust performance of the company for the year.

The total dividend for the 2023 financial year will be 0.225 per share including the interim dividend of 0.050 per share paid on September 8, 2023.

13,236,175,050 shares were held by more than 105,729 shareholders during the period under review.

Registered shareholders whose names are in the shareholders list by end of business on Thursday, March 28, 2024, will all qualify for this final dividend.

MTN Ghana in its 2023 annual report has set April 12, 2024, as the date for final payment.

“MTN Ghana’s financial report for 2023 shows a robust performance with a strong total revenue growth of 34.6% compared to the previous year. The growth was achieved through targeted business strategies that led to an increase in voice, data, and mobile money revenues. These impressive results demonstrate the company’s commitment to driving sustainable business growth in challenging times”, Ishmael Yamson, Board Chairman of MTN Ghana said.

The shareholders by ordinary resolution also approved the appointment and re-election of some directors of the company.

In addition, they authorized the Board to fix the remuneration of the auditor as well as approving GHS 6.59 million as directors fees for 2024.

Meanwhile, outgoing CEO of MTN Ghana, Selorm Adadevoh says the company is fully committed to sustaining its business growth and driving profitability despite the challenging economic outlook.

“MTN Ghana is on a journey to achieving operational excellence in all we do, which is a key pillar for protecting margins and sustaining bottom-line growth in the medium to long term. We plan to continue with the deployment of sound commercial strategies as well as our expense efficiency program and maintain a
prudent approach to managing costs.”

“This will enable us to deliver on our commitment of margin protection and ensure that our business remains profitable in the long run. However, we understand that there are macroeconomic headwinds currently impacting the business environment and our operations. These factors have been carefully evaluated, and we have decided to maintain MTN Ghana’s guidance on service revenue growth in high twenties (in percentage terms)” he said.

In 2023, telecommunication giant, MTN posted GHS 3.96bn as profit after tax representing about a 40% increase from 2022.

 

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