MTN Nigeria Plc (MTNN) has proposed a final dividend of N8.57 per 2 kobo ordinary shares for the year ended 31st December 2021.
The telecommunications company disclosed that this final dividend sums up the total dividend to N13.12 kobo, having paid N4.55 kobo on the 20th of August 2021.
The proposed dividend is subject to appropriate withholding tax, with a qualification date of April 6, 2022.
MTN Nig Plc has also revealed it made 22.90 per cent growth in revenue from N1.35 trillion to N1.65 trillion in its 2021 FY Audited Financial Statement.
According to the statement, the company reported a 45.5 per cent growth in net profit of N298.65 billion from N205.21 billion in the corresponding period of 2020.
The company generates the bulk of its revenue from Voice calls and data subscriptions, however, during the period, customers spent more on data subscriptions, increasing the revenue line by 55.31 per cent while revenue from voice calls appreciated by 6.96 per cent .
The Company has three reportable business segments which are Customer business unit, Enterprise business unit and Wholesale business unit. The customer business unit generated N1.46 trillion, making up 88 per cent of the total revenue. The enterprise business unit generated N148 billion, while wholesale business unit generated the least revenue of N47.67 billion.
Voice call and Data Subscription raked in N819 billion and N516 billion, respectively, compared with N766 billion and N332 billion in the corresponding period of 2020.
Revenue from interconnect and roaming increased y-o-y by 26.74 per cent to stand at N168 billion.
Expenses on adverts, sponsorships and, sales promotion grew by 44 per cent which suggests that active marketing contributed to the growth in sales.
Other expense line items as revealed in the income statement are interconnect costs and discount & commissions which advanced by 13.43 per cent and 14.11 per cent, respectively.
Taxation for the period amounted to approximately N138 bn appreciating by over 47 per cent, as contained in the financial statement.
In 2021 FY, net profit appreciated by 45.53 per cent from N205.21 billion to N298.65 billion, while the company’s net assets increased by N86.60 billion from N178.39 billion recorded as at December 2020 to N264.98 bn in the period under review. However, Total assets stood at N2.26 trillion.
MTN Nig Plc is currently trading at N190.00 per share and its market capitalization stands at N3.87 trillion as at Friday, January 28, 2021. Year-to-date performance shows that the share price of the company has declined by 3.55 per cent .
On Thursday, April 28, 2022, the dividend which amounts to N174.44 billion will be disbursed electronically to ordinary shareholders whose names appear on the Register of Members as at Thursday, April 7, 2022, and who have completed the e-dividend registration and mandated their Registrar to pay their dividends directly into their bank accounts.
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