MTNN proposes N203.5 billion final dividend

MTN Nigeria Communications (MTNN) has proposed a N203.55 billion final dividend, culminating in N10 per share due to every shareholder of the company for the 2022 financial year.

In its audited result for the 2022 financial year made available to the Nigerian Exchange Limited (NGX), the telecom giant’s profit before tax grew by 22.3 per cent to N534 billion, while net profit for the year rose by 21.1 per cent to N361.5 billion.

Its earnings per share (EPS) also rose by 21.3 per cent to N17.79, while capital expenditure (capex) rose by 23.5 per cent to N504.3 billion.
Mobile subscribers increased by 10.5 per cent to 75.6 million, active data users increased by 15.3 per cent to 39.5 million, while active fintech subscribers rose by 57.5 per cent to 14.9 million.

Service revenue increased by 21.5 per cent to N2.0 trillion. Earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 22 per cent to N1.1 trillion, while EBITDA margin increased by 0.2 percentage points to 53.2 per cent.

Speaking on the performance, CEO, MTN Nigeria, Karl Toriola, said: “Navigating a challenging operating environment in 2022 was challenging due to global macroeconomic and geopolitical volatility, resulting in higher inflation, supply chain uncertainties, foreign exchange volatility and availability.

“We continued to manage and invest in the resilience of our business and networks, expanding coverage and capacity with a focus on expense efficiencies and disciplined capital allocation.

“We became the first mobile network operator to launch a 5G network in Nigeria, providing coverage in key cities in the six geopolitical regions. Since its commercial launch in September 2022, we have rolled out 588 sites and brought the 5G network to 5G-enabled smartphones, starting with iPhone users. In this regard, we made good progress towards the execution of Ambition 2025 while delivering commercial and financial performance in line with our medium-term guidance.”