You are here: HomeBusiness2020 04 26Article 355006

Business News of Sunday, 26 April 2020

Source: www.mynigeria.com

MTN Nigeria declares N7.92k dividend

MTN MTN

MTN Nigeria Communications Plc has declared a final dividend of N4.97 kobo per 2 kobo ordinary share, bringing the total dividend for the financial year ended December 31st, 2019 to N7.92 kobo.

According to a notice filed by the telco, it is subject to applicable withholding tax and shareholder approval.

It is expected to be paid to shareholders whose names appear in the Register of Members as at the close of business Friday, April 17, 2020.

The dividend will on Tuesday, May 19th, 2020, be paid electronically to shareholders whose names appear on the Register of Members as at Friday, April 17, 2020, and to those who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.

While the Register of Shareholders will be closed from April 20th 2020, the Qualification date has been scheduled for Friday, April 17, 2020.

Shareholders yet to complete the e-dividend registration were advised to download the Registrar's E-Dividend Mandate Activation Form, complete them and submit it to the Registrar or their respective Banks.

A dividend is a payment made by a company to its shareholders, usually as a distribution of profits. When a company earns a profit or surplus, it reinvests a portion of the profit in the business (retained earnings) whilst paying a portion as dividends to the shareholders.

Distribution to shareholders may be in cash (usually a deposit into their bank accounts) or the issuance of further shares, otherwise known as shares repurchase. But this is usually done if the company has a dividend reinvestment plan.