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Business News of Tuesday, 19 May 2020

Source: MyNigeria

MTN Nigeria shareholders to gain N101bn in dividends

Shareholders will be rewarded with a whopping sum of N101bn in dividends from MTN Nigeria Communications Plc.

This resolution was proposed and approved at the Annual General Meeting of the telecommunication giant which held on Friday, May 15, 2020, at the Rooftop Event Hall, MTN Plaza, Falomo, Ikoyi, Lagos.

This is the proceeds from the total dividend in respect of the 2019 financial year.

"A dividend payment in the total sum of N101,161,929, 858.50 (One hundred and one billion, one hundred and sixty-one million, nine hundred and twenty-nine thousand, eight hundred and fifty-eight Naira, fifty Kobo which translates to N4.97 per every 2 kobo ordinary share; to shareholders whose names appear in the Company’s Register of Members at the close of business on Friday, April 17, 2020," the statement read in part from the Stock Exchange website.

The dividends are subject to appropriate withholding tax deduction.

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