MTN Ghana declares dividend to IPO shareholders

BY: Kweku Zurek
Mr. Selorm Adadevoh - MTN Ghana CEO
Mr. Selorm Adadevoh - MTN Ghana CEO

MTN Ghana has announced that it will pay an interim dividend to shareholders registered on the books of the telecommunications network as well as dividends to its pre-Initial Public Offering (IPO) shareholders.

The company said on October 12 it received approval from the Bank of Ghana for the payment of a gross dividend of GHS1,067 declared on August 31 payable to its pre-IPO shareholders.

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MTN also declared a gross interim dividend of GHS0.02 per share for the period to September 30. The amount is subject to the deduction of appropriate taxes.

"The number of ordinary shares in issue at the date of the declaration is 12,290,474,360," MTN Ghana said in its unaudited financial statements for the nine months ended September 30, 2018.

It said only shareholders registered in the books of MTN Ghana at the close of business on Friday, November 9, 2018, will qualify for the interim dividend.


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The dividend will be transferred electronically to the bank accounts or Mobile Money wallets of certified shareholders who make use of these facilities on Wednesday, November 21, 2018. 

"In view of this, the register of shareholders will be closed from Monday, 12 November 2018 to Thursday, November 15, 2018 (both dates inclusive)," MTN Ghana said.

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MTN Subscriber growth

MTN Ghana also announced that its subscriber base grew from grew from 17.1million to 19.4million for the nine months of 2018.

MTN Ghana stated that it's data subscribers increased to 14.3million, up from 5.8million compared to last year.

It's mobile money (MoMo) subscriber base also rose.

"During the quarter, MTN Ghana delivered a strong performance, driven by solid service revenue growth of 22.9%. Data revenue increased by 30.9% YoY while digital revenue expanded by more than 28%, driven by MoMO, which increased its contribution to revenue to 16%," the group said.

“Mobile money subscribers were 9.4million, up from 7.9million”.

Background

In August this year, MTN Ghana successfully listed on the Ghana Stock Exchange securing over GH₵1.14 billion in a historic Initial Public Offering (IPO).

Official figures from the IPO indicated that about GH₵444m out of the GH₵1.14 billion (GHp75 per share) raised came from Ghanaians, representing about 38.69%.

About GH₵703 million was also raised from non-Ghanaians representing about 61.31%

The figures showed that out of the 128,152 applicants, 127,826 were Ghanaians and only 326 were non-Ghanaians.

MTN said about 108,434 applicants subscribed through the MTN Mobile Money portal representing 84.6% of the number of applicants.