MTN Nigeria to pay N3.50 kobo/share interim dividend

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5 years ago

The board of directors of MTN Nigeria Communications Plc has proposed to pay its shareholders the sum of N3.50 per share interim dividend.

This is coming as the telecommunication company increased its revenue by 12.5 per cent to N638.1 billion in the first half of 2020 from N567.0 billion in the corresponding period of last year.

According to a financial statement released to the Nigerian Stock Exchange (NSE), the 15.6 per cent growth in the mobile subscriber base of MTN Nigeria to 71.1 million provided support for the 2.8 per cent rise in the voice revenue, which contributed 67.9 per cent to the service revenue of N637.0 billion versus N565.9 billion in H1 2019.

Also, data revenue, which accounted for 24.2 per cent of the service turnover, grew in the period by 57.6 per cent to N154.1 billion from N97.8 billion in the first six months of 2019.

In the period under review, 4.0 million new smartphones were added to MTN Nigeria network, bringing the smartphone penetration to 43.5 per cent on its base.

Also, in the first half of 2020, the digital revenue of MTN Nigeria continued to rise, with digital offerings recording a growth of 121.8 per cent and this was because of the uptake of its digital products and services.

In addition, fintech revenue recorded a growth of 29.6 per cent, driven by the airtime lender platform called MTN Xtratime as well as the agent network. The total number of transactions processed by its agents during the period was over 14.6 million.

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