MTN Shareholders to Receive Dividend of 70.6%

MTN Ghana has stated that the company’s shareholders are expected to receive 70.6% dividend for the year 2021.

“After studying the full year performance of the company in 2021, the total dividend for the year was 11.5 pesewas per share, representing 70.6% of profit after tax and a 43.8% increase in dividend per share Pay-out in 2021 over 2020”.

This was contained in a press statement copied to after MTN Ghana held its 4th Annual General Meeting since listing on the Ghana Stock Exchange in 2018.

According to the statement, “the meeting saw the approval of the Audited Financial Statements for the year ended 31st December 2021 and the declaration of a final dividend”.

“Board Chairman of MTN Ghana, Dr. Ishmael Yamson, attributed the significant growth in the company’s revenue to strong growth in Data Service, Mobile Money, and Voice Service. During the period, the company recorded 56.3% growth in data revenue, 38.2% growth in Mobile Money revenue supported by some 4.9% growth in voice revenue. He stressed that the past year ended successfully and assured shareholders that MTN Ghana will always endeavour to make sure the company is well-managed with best interests of shareholders in mind”.

“We had a successful Annual General Meeting. The results were very good. Shareholders approved the payment of very decent dividends. We assure shareholders that our focus is a very robust governance culture that will ensure that the company is well managed, well catered for and continues to operate in an ethical manner,” Dr.  Yamson indicated.

Speaking at the event, Chief Executive Officer of MTN Ghana, Selorm Adadevoh, explained that during the period in review, 4G network coverage was improved to over 90 per cent with an addition of 1,446 sites to reach an extra 1.7 million people. Additionally, the company added on 131 2G sites, 130 3G sites, while some 1,200 sites were modernized to improve customer experience.

Mr. Adadevoh expressed optimism for the 2022 financial year, stating that the company forecasts revenue growth in the high teens. “We forecast service revenue growth in the high teens (in percentage terms) over the medium-term from the previous guidance of 13% to 15%. In addition, we will progress the execution of the expense efficiency programme and our prudent approach to managing costs to deliver on our commitment of margin expansion,” he said.



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