Connect with us

Dividends

MTN Nigeria to Pay N113.985 Billion in Interim Dividend to Shareholders in H1 2022

Nigeria’s leading telecommunications company, MTN Nigeria has proposed to pay N113.985 billion in interim dividend to its shareholders in the first half (H1) of 2022.

Published

on

Karl O Toriola - Investorsking.com

Nigeria’s leading telecommunications company, MTN Nigeria has proposed to pay N113.985 billion in interim dividend to its shareholders in the first half (H1) of 2022.

The company reported a 28.1% increase in profit after tax to N181.6 billion in the period.  MTN Nigeria announced this in a statement signed by Uto Ukpanah, the company secretary.

In the statement, MTN Nigeria’s board of directors proposed to pay an interim dividend of N5.60 kobo per 2 kobo ordinary shares in H1 2022. This N5.60 multiplied by 20,354,513,050 outstanding shares of the company translated to N113.985 billion.

The dividend announced is 23.1% higher than the amount paid in the same period of 2021.

According to the company, the amount will be paid to shareholders whose names appear in the Register of Members as at the close of business on 18 August 2022.

On the closure of register, the register of shareholders will be closed from 19 August 2022. This puts the qualification date at 18 August 2022.

Shareholders whose names appear on the register of members as at 18 August 2022, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts will be paid on 26 August 2022.

However, shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Activation Form, complete it and submit it to the Registrar or their respective Banks.

Shareholders with unclaimed dividends are advised to complete the e-dividend registration or contact the Registrar.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

Continue Reading
Comments

Dividends

SEC Steps Up Efforts to Reduce Unclaimed Dividends in Capital Market

Published

on

Dividend - Investors King

The Securities and Exchange Commission (SEC) has intensified its efforts through a series of strategic initiatives and investor clinics across various regions.

The latest endeavor took place in Yobe State, where the SEC, in collaboration with the Gombe State Investment and Property Development Company, organized a three-day investors clinic.

Mr. Danladi Mohammed, the Head of the SEC Zonal Office in Kano, disclosed that the initiative aimed to address concerns related to unclaimed dividends and enlighten investors on crucial matters such as e-dividend and dematerialization of shares certificates.

The clinic also served as a platform to handle inquiries and complaints from shareholders in Yobe State and its environs.

Unclaimed dividends in the Nigerian capital market reached a staggering N190 billion by August 2023, prompting regulatory authorities to take decisive action.

The SEC views reducing unclaimed dividends as a key objective outlined in the Capital Market Development Master Plan 2015 to 2025.

The initiative aligns with the SEC’s commitment to fostering investor confidence and ensuring market integrity.

It reflects the Commission’s dedication to fulfilling its mandate of regulating and developing the Nigerian capital market to meet international standards.

The SEC’s Director-General, Lamido Yuguda, emphasized the importance of investor education and engagement in addressing the challenge of unclaimed dividends.

Through investor clinics and proactive measures, the SEC aims to empower investors to claim what rightfully belongs to them and enhance transparency and efficiency in the capital market ecosystem.

Continue Reading

Dividends

Nigerian Exchange Group Shareholders to Receive N1.5bn Dividends Amid Profit Surge

Published

on

Nigerian Exchange Group- Investors King

The Nigerian Exchange Group (NGX) has announced a N1.5 billion dividend for its shareholders following a remarkable profit surge.

In the statement released by NGX’s Head of Marketing & Corporate Communications, Clifford Akpolo, the company recorded a robust profit after tax of N5.2 billion for the financial year ending December 2023.

The company’s audited financial statements disclosed a 57.4% increase in gross earnings to N11.8 billion, attributed to strong performances in core revenue streams and other income segments.

Transaction fees surged by 52.6%, driven by heightened trading activities, while listing fees and rental income rose by 42.2% and 41.8%, respectively.

Strategic investments also contributed significantly to a 5.4% boost in treasury investment income. Other income, representing 29.7% of gross earnings, witnessed a remarkable surge of 163.6% to N3.504 billion.

The NGX board proposed a final dividend of N1.5 billion, translating to 75 Kobo per share, in addition to an interim dividend of N495.53 million at 25 Kobo per share paid earlier in August 2023.

Dr. Umaru Kwairanga, Chairman of NGX Group, affirmed the company’s commitment to maximizing shareholder value, while CEO Temi Popoola expressed satisfaction with NGX’s operational performance and emphasized the company’s trajectory of growth and innovation in the upcoming fiscal year.

Continue Reading

Dividends

Otedola Set to Pocket N15.728 Billion as Geregu Declares N20 Billion Dividend

Published

on

Dividend - Investors King

Billionaire Femi Otedola, Chairman of Geregu Power Plc, stands to earn N15.728 billion in dividends for the 2023 financial year following Geregu’s announcement of a final dividend of N8.00 per ordinary share.

With 2.5 billion outstanding shares issued by the organization, the total dividend amounts to N20 billion.

Otedola, who holds a 78.64% stake or 1.966 billion shares in the company, will receive a N15.728 billion dividend payout.

Geregu revealed that the final dividend will be disbursed to shareholders listed in the Register of Members as of the close of business on February 27, 2024.

The Register of Shareholders is scheduled to close on February 28, 2024, with dividends to be paid out on March 28, 2024.

Shareholders who have not completed the e-dividend registration process are urged to download the Registrar’s E-Dividend Mandate Activation Form and submit it to the Registrar or their respective banks.

Furthermore, shareholders with outstanding dividend warrants and unclaimed share certificates are advised to complete the e-dividend registration process or reach out to the Registrar for assistance.

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending