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MTN to pay shareholders N3.50 interim dividend electronically

In an apparent attempt to change the status quo at the Nigerian Stock Exchange, MTN Nigeria has elected to pay e-dividends to its shareholders. This is after the telco declared N3.50 interim dividend per share to be paid to its shareholders from its half-year financial results, 2020.

The payment according to MTN, would be paid directly into shareholders account, provided they filled and submitted the e-dividend registration form, earlier given to them.

All payments, MTN said, will be subjected to deduction of withholding tax. MTN, in the half-year result, saw a top-line growth

Company Secretary, Uto Ukpanah

by N71.081 billion, which is 18.6 percent higher than the N2.95 it declared for the same period of last year.

This year’s interim dividend makes it the second time MTN Nigeria will announce such since becoming a quoted company in May 2019.

The company Secretary, Uto Ukpanah said “shareholders whose names feature on the register of the company by 14th August will be eligible for the cash reward, the board of directors declared in an announcement note posted on the Nigerian Stock Exchange (NSE) website.

He further explained that on August 24, 2020, dividends will be paid electronically to shareholders whose names appear on the Register of Members as of August 14, 2020, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank account”, he said.

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