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Business News

MTN Nigeria announces final dividend of N4.97 for FY 2019

MTN Nigeria Communication Plc has announced a final dividend payout of N4.97 per 2 kobo ordinary share.

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MTN introduces packages to address impact of COVID-19, FG denies issuing 5G license to telcos, despite MTN, Huawei's 5G-demo launch last year, MTN Nigeria Plc proposes a final dividend of N4.97, MTN Nigeria Profit increases by 8.9% to N76.3 billion in Q1 2020, MTN Nigeria Might be Revved Up About Its N100 Billion CP Issuance but Hidden Truths Lurk, MTN Nigeria posts N975.76 billion Revenue for Q3, 2020

MTN Nigeria Communication Plc has announced a final dividend payout of N4.97 per 2 kobo ordinary share.

This brings the total dividend for the financial year that ended in 2019 to N7.92. The dividend payout is subject to appropriate withholding tax and approval.

Date of payment: On May 19, 2020, dividends will be paid electronically to shareholders whose names appear on the Register of Members as on April 17, 2020. Note also that shareholders must complete the e-dividend registration and mandate the Registrar to pay their dividends directly into their bank accounts before they can receive dividend payment.

In addition, it should be noted that the register of shareholders became closed starting  from 20th April 2020. This is according to a public disclosure that was issued by the company.

Meanwhile, the Annual General Meeting will be held at the Rooftop Event hall MTN Plaza, Falomo Ikoyi, Lagos at 11 am.

Understanding dividend: A dividend is a payment made by a company to its shareholders, usually as a distribution of profits. When a company earns a profit or surplus, it reinvests a portion of the profit in the business (retained earnings) whilst paying a portion as dividends to the shareholders.

Distribution to shareholders may be in cash (usually a deposit into their bank accounts) or the issuance of further shares, otherwise known as shares repurchase. But this is usually done if the company has a dividend reinvestment plan.

In other words, a dividend is allocated as a fixed amount per share with shareholders receiving a dividend in proportion to their shareholdings. For the joint-stock company, paying dividends is not an expense, rather, it is the division of after-tax profits among shareholders.

About the company: MTN Nigeria Communications Plc provides wireless telecommunication services. The company offers roaming, internet, bills payment, device financing, data management, SIM registration, and other related services.

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Message Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

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Coronavirus

Covid-19: WHO approves China’s Sinopharm vaccine

WHO has announced the approval of China’s Sinopharm vaccine for Covid-19 vaccination.

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Covid-19: First world nations oppose waiving intellectual rights for vaccine development

The World Health Organization (WHO) has announced the approval of China’s Sinopharm vaccine for Covid-19 vaccination.  The vaccine is reported to have 79% efficacy against covid.

This was disclosed today in a report by Reuters. The vaccine would also be the second Chinese-made vaccine after Sinovac vaccine and would be the first developed outside Europe and North America to receive WHO accreditation.

“This expands the list of COVID-19 vaccines that COVAX can buy, and gives countries confidence to expedite their own regulatory approval, and to import and administer a vaccine,” WHO Director-General, Tedros Adhanom Ghebreyesus said.

The WHO added that the easy storage requirements make it highly suitable for low-resource settings.

“Its easy storage requirements make it highly suitable for low-resource settings,” a WHO statement said while also disclosing that the vaccine has been approved for people above the age of 18 to receive two shots.

“On the basis of all available evidence, WHO recommends the vaccine for adults 18 years and older, in a two-dose schedule with a spacing of three to four weeks,” the statement added.

The vaccine was created by Beijing Biological Products Institute, a subsidiary of Sinopharm subsidiary China National Biotec Group, with an efficacy of 79% for all age groups.

The WHO however, admitted that few older adults (over 60 years) were enrolled in clinical trials, so efficacy could not be estimated in this age group.

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The quest for vaccine efficiency got a major boost earlier this week as Nairametrics reported that the United States government announced that it supports the waiver of Intellectual Property Protections on Covid-19 vaccine development, in a bid to boost the fight against the pandemic, and says it will participate in the Okonjo-Iweala-led WTO negotiation to make it happen.

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Obituaries

“Mama Taraba”, Former minister and senator, Aisha Al-Hassan is dead

Ex-Women Affairs minister, Aisha Jummai Al-Hassan, popularly known as Mama Taraba is dead

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A former Minister for Women Affairs and ex-Governorship Candidate in Taraba State, Aisha Jummai Al-Hassan, popularly known as Mama Taraba is dead.

According to media reports she died in a hospital on Friday in Cairo, Egypt at the age of 61.

Al-Hassan, who was a former senator of the Federal Republic of Nigeria from Taraba North Senatorial District, was the All Progressive Congress (APC) Governorship Candidate for Taraba in the 2015 general elections.

READ: Abba Kyari’s last letter to President Buhari

She later contested for the same seat on the platform of the United Democratic Party in the 2019 general elections after resigning from APC and as a minister in the administration of President Muhammadu Buhari on July 27, 2018.

The former senator was born on the 16th of September, 1959 in Jalingo, Taraba State, to Alhaji Abubakar Ibrahim, Sarkin Ayukan Muri.

READ: Chad’s President Deby dies of injuries suffered on the frontlines, as son takes over

Aisha Jummai Al-Hassan attended Muhammed Nya Primary School, Jalingo and LEA Primary School, Tudun Wada, Kaduna before proceeding to Saint Faith College (now GGSS) Kawo Kaduna where she studied between January 1973 and June 1977.

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