MTN endorses Shs5.5 per share dividend pay

MTN has approved a final dividend pay-out of Shs5.5 per share for the period ended December 31. 

The pay-out, which was approved during the telecom’s second annual general meeting last week, totals to Shs123.1b. 

It comes on the back of an impressive performance, in which the telecom’s profits, according to published financial results during the period, rose to Shs406b, boosted by growth in revenues from internet data and financial technology services. 

MTN also reported its income had grossed Shs2.2 trillion, registering growth in all revenue streams, save for voice, which even after registering a decline, remained the largest income stream.  

The dividend pay-out, Mr Charles Mbire, the MTN chairman, said in a statement yesterday is expected to be paid by June 23. 

During the period, MTN indicated data revenues grew by 24 percent to Shs511b, supported by increased investment in 4G and expansion of the fibre network to 9,418 kilometres, while financial technology, which includes mobile money and Fintechs, increased by 25 percent to Shs565b due to growth in payments, bank interface and remittance.  

Mobile money pay was the biggest driver, earning more revenues due to an expansion in merchant numbers, which grew threefold to 173,000 supported by customer transition to cashless payments. 

Voice revenue, recorded a marginal decline of 0.5 percent, but remained the highest revenue source, contributing Shs1.1 trillion on MTN’s bottom line.

Mr Mbire also indicated MTN had appointed Dr Winnie Tarinyeba Kiryabwire as a non-executive director, noting that her expertise in governance and oversight roles in public, private and not-for-profit sectors, provided a “wealth of experience [that[ will be invaluable in helping the company achieve its strategic objectives”.

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