Ghana’s leading telecommunications network, MTN Ghana, has presented a cheque of GHS 9,937,274.00 to the Social Security and National Insurance Trust (SSNIT) at the Pension House in Accra as dividend for the year ended 2018.
This follows the approval of a final dividend of GHS 368,714,230.80 (GHS 0.03 per share) at the company’s maiden Annual General Meeting held at the Fantasy Dome, Trade Fair Site in Accra on Tuesday, May 14, 2019. This will bring the total dividends payable for the year ended 31 December 2018 to GHS 614,523,718.00 (GHS 0.05 per share) to shareholders.
Presenting the cheque to SSNIT on behalf of Scancom Plc, (MTN Ghana), Chief Finance Officer of MTN Ghana, Mr. Modupe Kadri, said, “The dividends for 2018 represents 81.14 percent of profit after tax and also a 14.4 percent increase over the dividends paid in 2017. SSNIT as the third largest shareholder, is entitled to a total dividend of GHS 9,937,274.00”.
Deputy Director General in charge of Administration and Finance of SSNIT, Mr. Michael Addotey Addo, who accepted the cheque on behalf of SSNIT, commended MTN Ghana for what he described as a remarkable feat.
“If you do the calculation, it is less than a year and MTN Ghana is paying us this amount. It is a good start and a remarkable one, we are very satisfied and I am confident that MTN Ghana will deliver more of such feats. I urge all other companies to replicate what MTN Ghana is doing”, Mr. Addo said.
In September 2018, MTN Ghana listed on the Ghana Stock Exchange (GSE) with the largest number of Ghanaian shareholding of any listed company on the local bourse at 127,826. At the end of the 2018 financial period, MTN Ghana’s market capitalization was GHS 9.7 billion, making it the third largest primary listed company on the GSE.