Airtel Africa fixes N1,347.44/$ rate for interim dividend, implying N41.77 per share for NGX holders

Airtel Africa Plc has fixed an exchange rate of N1,347.44 per Dollar for its 3.1 US Cents-per-share interim dividend, translating to approximately N41.77 per share for Nigerian Exchange (NGX) shareholders who receive payment in Naira.

The rate was disclosed in a notice filed with the Nigerian Exchange (NGX) on Thursday, November 5, 2026, and signed by the Group Company Secretary, Simon O’Hara, outlining the currency options available to shareholders on the NGX and London Stock Exchange (LSE).

The company said the dividend would be paid on December 11, 2026, to shareholders on its register at the close of business on November 13, 2026.

Airtel Africa sets dividend conversion rates:

Airtel Africa said the Naira and Pound Sterling conversion rates were determined using Dollar exchange rates available on October 30, 2026.

• The approved rate of N1,347.44 per Dollar translates the 3.1 US Cents dividend into approximately N41.77 per share, while the Sterling rate of $1 to £0.7464 implies approximately 2.31 Pence per share.
• The naira conversion rate is approximately 7.5% lower than the N1,456.00 per Dollar adopted for the equivalent interim dividend in 2025.
• The lower conversion rate means each Dollar of dividend declared translates into fewer naira than it would at the previous year’s rate.

Airtel Africa increased its interim dividend by 9.2% to 3.1 US Cents per ordinary share.

The company reported half-year profit of $452 million, representing a 20.5% increase, while basic earnings per share rose to 10.2 US cents from 8.3 US Cents.

Nairametrics previously reported that Airtel Africa and Seplat Energy were among the NGX-listed companies paying dividends in US Dollars.

The exchange rate selected for dividend conversion is therefore an important factor in determining the naira amount received by Nigerian shareholders.

For comparison, Airtel Africa adopted N858.24 per dollar for its 2023 interim dividend, substantially below the conversion rate announced for 2026.

Airtel Africa announces dividend deadlines:

Airtel Africa has provided separate currency-election arrangements for shareholders on the Nigerian and London Stock Exchanges.

• For NGX shareholders, the default payment currency is Naira, while LSE shareholders who do not make an election will receive their dividends in US Dollars.
• The last day to trade to qualify for the dividend is November 12, 2026, for NGX shareholders and November 11, 2026, for LSE shareholders.
• NGX shareholders may elect to receive payment in Naira or US Dollars, with Dollar elections requiring a Currency Election Form.
• Completed forms for Nigerian shareholders should be submitted or mailed to Coronation Registrars Limited.

LSE shareholders may elect to receive Pounds Sterling or US Dollars through Computershare Investor Services Plc, while CREST participants can submit elections through CREST.

The currency-election deadline is November 23, 2026, for shareholders on both exchanges.

• NGX shareholders who do not submit an election by the deadline will receive their dividends in Naira, while LSE shareholders will receive payment in US Dollars.
• The N41.77 per-share amount represents the conversion of the declared Dollar dividend at the approved exchange rate.

The actual amount received by each shareholder will depend on the number of qualifying shares held and the currency selected.

Airtel shares gain 178%:

Listed on both the Nigerian Exchange and the London Stock Exchange, the company has recorded substantial share-price appreciation on the NGX in 2026, alongside the increase in its interim dividend and half-year earnings.

• Airtel Africa closed trading on Thursday, November 5, 2026, at N6,300 per share on the NGX.
• The stock began the year at N2,270 per share, representing a year-to-date gain of approximately 178%.
• The company ranked ninth on the NGX by year-to-date share-price performance, according to the supplied market data.
• Between August 7 and November 5, 2026, approximately 1.58 million Airtel Africa shares were traded in 10,340 deals, valued at about N9.46 billion.

For shareholders, the interim dividend provides an additional return alongside the stock’s capital appreciation.

Investors seeking payment in US Dollars rather than Naira must submit their currency elections before November 23, ahead of the scheduled December 11 dividend payment.