MTN Nigeria Rewards Shareholders with N174.53bn Dividend

The MTN Nigeria has set aside N174.53 billion as dividend to its shareholders whose names appeared in the Company’s Register of Members at the close of business on Wednesday, April 6, 2022, which translates to N8.57 Kobo per every two kobo ordinary share.

This would bring the total dividend for the year that ended on December 31, 2021 to N13.12 per share, subject to withholding tax.

The MTN Nigeria also announced that its initial 575 million share unit’s offer was exceeded with an oversubscription rate of 139.47 per cent, and in order to manage the over subscription, it added 86.25 million share units to the initial share units.

It said: “In all, 661.25 million units of MTN Nigeria shares were allotted and a total of 126,720 retail investors submitted valid applications and received full allotment. Other institutional investors such as pension funds, insurance companies, asset managers, corporates, and foreign portfolio investors who participated in the book build were allotted 72.09 per cent of their applications.

“This includes Nigerian pension funds representing approximately 6.5 million Nigerian contributors. Nigerian investors across the country supported the offer through multiple channels such as Receiving Agents, Issuing Houses and Primary Offer, that is the digital application platform.

“More than 89 per cent of retail offer subscribers applied through the Primary Offer platform (via mobile and web).

“In addition, 114,938 new

Central Securities Clearing System (CSCS) accounts were opened by first-time investors. It was estimated that 76 per cent of the successful subscribers to the public share offer via the digital platform are women, while 85 per cent of these are below the age of 40.”

Speaking on the opportunity that the public share offers to Nigerians, The Chairman of MTN Nigeria, Mr. Ernest

Ndukwe, said: “There was no better way for us to commemorate our 20th anniversary than by giving more Nigerians the opportunity to participate in our future success, in line with our Ambition 2025 commitment to shared value.

“To do this, we launched an offer for the sale of 575 million shares held by the MTN Group in MTN Nigeria Communications Plc in November 2021.