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Telco giant, MTN Nigeria has declared its first-ever dividend payment since going public, as the company announced an interim dividend of N2.95 kobo per 2 kobo ordinary share for the financial period ended Sunday, June 30, 2019.

MTN announced that the dividends would be paid on Thursday, August 8, 2019, electronically to shareholders whose names appear on the Register of Members as at Friday, August 16, 2019.

While Qualification for the payment holds on August 8, the Register of Shareholders would be closed from Friday, August 9, 2019, to Tuesday, August 13, 2019.

Financial results: MTN Nigeria’s unaudited second-quarter (Q2) 2019 financial performance revenue stood at N566.9 billion, as against N505.6 billion during the same period in 2018. This indicates a 12% increase in revenue.

[READ MORE: Did Airtel Africa’s listing drag MTN Nigeria’s shares down on the NSE?]

Profit Before Tax stood at N141.8 billion in H1 2019 as against N108.3 billion recorded in H1 2018, indicating an increase of 30.9%. Profit for the period stood at N98.9 billion as against N73.3 billion in H1 2018. This represents a 34.8% increase.

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Earnings per Share (basic/diluted) was at N4.86 billion in H1 2019 compared to N3.61 billion in H1 2018.

Recall that MTN had on Thursday, May 16, 2019, listed by introduction on the Nigerian Stock Exchange (NSE).

Analysts’ forecast after listing: According to a report by Coronation Merchant Bank, MTN Nigeria is expected to continue its steady growth in the coming years. Not only does the company operate in an industry that continues to thrive, but it also defied odds when it recorded an impressive FY 2018 result, despite recent regulatory sanctions imposed on it.

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“MTN Nigeria is emerging from a period of turbulence stemming from the regulatory fine imposed on it in 2015. Now, however, we believe that MTN Nigeria has entered into a period of renewed growth 2019f-22f, not so much backed by GSM growth but by internet subscriber growth and by Data and Mobile Financial Services (MFS).”

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[READ ALSO: MTN Nigeria’s stock falls as Investors react negatively to Pascal Dozie’s exit]


Specifically, analysts are forecasting that the company’s revenue growth between now and 2022 will be driven mainly by Data and Digital & MFS. See details below:

  • Projected revenue growth from Data: 15.5%
  • Projected revenue from Digital & MFS: 9.7%
  • Projected revenue from voice: 3.6%
  • Overall growth is projected at 6.2% between now and 2022.

Meanwhile, MTN Nigeria Plc’s shares are currently trading at N125 on the NSE.

Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ). Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.


  1. MTN deserves a very big round of applause for this impressive result and dividend declaration. In just over two months, they decided to issue dividend of N2.95. 👍👍👍


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