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    LASTMA Introduces Drone Technology to Improve Traffic Management in Lagos

    LASTMA Introduces Drone Technology to Improve Traffic Management in Lagos

    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

    South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

    South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

    Egypt’s Enza Secures $6.75M to Drive Financial Inclusion in Africa

    Egypt’s Enza Secures $6.75M to Drive Financial Inclusion in Africa

    South African Prop-Tech Startup Preferental Unveils Innovative Tenant-Screening App

    South African Prop-Tech Startup Preferental Unveils Innovative Tenant-Screening App

    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

    Stitch Teams Up with Standard Bank’s Shyft for Instant Wallet Top-Ups in South Africa

    Stitch Teams Up with Standard Bank’s Shyft for Instant Wallet Top-Ups in South Africa

  • Startups⚡ by CRAWL
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    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

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    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

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    South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

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    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

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    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

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    iPhone 16 Sales Surge 20% in China, Signaling a Strong Comeback

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    Grid Africa Secures $2.8 Million for Renewable Energy Initiatives in South Africa

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    One Direction Star Liam Payne Dies after Hotel Balcony Fall

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MTNN proposes N203.5 billion final dividend

by Eucharia Egwuma
February 6, 2023
in Business
Reading Time: 2 mins read
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MTN Dominates Market Share As Nigeria Nears 200mn Active Telephone Subscriptions In September
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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.”

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