According to the company’s regulatory financial filings, MTN Nigerian Communication Plc. increased its dividend payment by N75 billion, going from N212 billion in 2021 to N288 billion in the whole 2022 fiscal year.
The board of the firm approved a dividend payment of N10 per share to the distributable net income, according to the regulatory filing, bringing the total payout for the year to N15.60 kobo, indicating a rise of 18.9%.
As an alternative to a cash dividend, MTN said it was considering a scrip dividend option, subject to shareholder and regulatory approval. Remember that MTN Nigeria recently reported its results for the entire year of 2022, showing strong growth on both the top and bottom lines.
Revenue increased to N2.012 trillion in the full year ended 31 December 2022; the first listed company to reach the landmark, indicating a 21.5 percent increase over N1.65tn made as of December 2021. The company’s expenses grew by 21.2 percent to N941.90bn in 2022 compared to N777.22bn in 2021.