MTN dividend up by 43.8% in 2021

MTN Ghana has received approval of its Audited Financial Statements for the year 2021 and the declaration of a final dividend which is set to be paid out to shareholders. 

The approval of the statement and the declaration of dividend took place during the company’s 4th Annual General Meeting since listing on the Ghana Stock Exchange in 2018.

After studying the full year performance of the company, the total dividend for the year was 11.5 pesewas per share, representing 70.6% of profit after tax and a 43.8% increase in dividend per share payout in 2021 over 2020.

Board Chairman of MTN Ghana, Dr. Ishmael Yamson, attributed the significant growth in the company’s revenue to strong growth in Data Service, Mobile Money, and Voice Service. During the period, the company recorded 56.3% growth in data revenue, 38.2% growth in Mobile Money revenue supported by some 4.9% growth in voice revenue.

Dr. Ishmael Yamson stressed that the past year ended successfully and assured shareholders that MTN Ghana will always endeavor to make sure the company is well-managed with best interests of shareholders in mind.

“We had a successful Annual General Meeting. The results were very good. Shareholders approved the payment of very decent dividends. We assure shareholders that our focus is a very robust governance culture that will ensure that the company is well managed, well catered for and continues to operate in an ethical manner” he said.

Speaking at the event, Chief Executive Officer of MTN Ghana, Selorm Adadevoh, explained that during the period in review, 4G network coverage was improved to over 90% with an addition of 1,446 sites to reach an extra 1.7 million people.

Additionally, he said the company was added on 131 2G sites, 130 3G sites, while some 1,200 sites were modernized to improve customer experience.

Higher Target

Mr. Adadevoh expressed optimism for the 2022 financial year, stating that the company forecasts revenue growth in the high teens.

“We forecast service revenue growth in the high teens (in percentage terms) over the medium-term from the previous guidance of 13% to 15%. In addition, we will progress the execution of the expense efficiency program and our prudent approach to managing costs to deliver on our commitment of margin expansion”.

Scancom PLC (MTN Ghana) held its first AGM in May 2019 after it listed on the Ghana Stock Exchange (GSE) on September 5, 2018. It remains the company with the largest number of Ghanaian shareholders, following its Initial Public Offering (IPO) which raised GHS1,146,589,464.75 from 128,152 applicants.

The IPO of MTN Ghana made history as the largest primary share offer in the history of the GSE. Most importantly, it enabled many Ghanaians to own shares in one of Ghana’s largest, most visible and well-respected companies.

MTN Ghana is the market leader in the mobile telecommunications industry in Ghana, offering subscribers a range of exciting options under Pay As You Go, Pay Monthly and Mobile Financial Services.

The company is part of the MTN Group which is a leading emerging market leader with a clear vision to lead the delivery of a bold new digital world to its customers. The company is inspired by its belief that everyone deserves the benefits of a modern connected life.

Scancom PLC is listed on the Ghana Stock Exchange and its strategy is ‘Ambition 2025: Leading digital solutions for Africa’s progress.