Telecommunications giant, MTN Ghana says it will pay out a dividend of 4 pesewas per share to shareholders following its strong 2019 financial performance, according to the company’s latest financial report for 2019.
The company in the report recorded a profit after tax of GH¢1 billion representing more than 33.5 percent, a figure it recorded in 2018.
According to a statement by MTN Ghana, after reviewing the full-year performance of the company; “The board of MTN Ghana shall be recommending a final dividend of 4 pesewas per share, bringing the total dividend for the 2019 year to 6 pesewas per share. This represents 73.1 percent of profit after tax and a 20 percent increase in dividend per share.”
Meanwhile, total revenue for MTN in 2019 increased by 22.82 percent which reached GH¢5.18 billion up from GH¢4.2 billion
Service revenue which discounts non-core activities like the sale of sim cards and mobile devices recorded GH¢5.15 billion in 2019, up from the GH¢4.19 billion recorded in the previous year.
In the interim, revenue accrued from the sale of sim cards and mobile devices improved by 35 percent to record GH¢33.7 million between 2018 and 2019.
For the period under review, revenue for MTN’s Mobile Money grew by 28 percent owing to an increase in active mobile money subscribers, commissions on cash-in-cash-out transactions, and growth in retail merchant payments.