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Scancom PLC (MTN Ghana) will pay a dividend of 17.5 pesewas per share to shareholders effective April 12, 2024.
The total dividend for the 2023 financial year will be 22.5 pesewas per share, including the interim dividend of 5.0 pesewas per share paid on 8 September 2023.
MTN Ghana made this known to shareholders at the Sixth Annual General Meeting of the Company in Accra on Accra.
Dr Ishmael Yamson, the Board Chairman of MTN Ghana said it was because of the exceptional business performance, and the strength of the cashflow position and projections.
The total dividend amount of GH₵3.0 billion is equivalent to 74.8 per cent of the company’s profit after tax (GH₵4.0 billion) and represents a 37.2 per cent increase in dividend payout per share.
He said despite the economic challenges faced by the country, the Company had continued to demonstrate discipline in executing its strategic goals for 2023.
He said MTN Ghana’s financial report for 2023 showed a robust performance with a strong total revenue growth of 34.6.per cent compared to the previous year.
“The growth was achieved through targeted business strategies that led to an increase in Voice, Data, and Mobile Money revenues,” he added.
The Chairman said as part of the company’s commitment to disciplined execution, the management team executed the expense efficiency programme proactively to control costs, maintain profitability and ensure business growth.
Dr Yamson said as a result, Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) grew by an outstanding 40.2 per cent year-on-year, and the EBITDA margin also increased by 2.3 percentage points from 56.1 per cent in 2022 to 58.4 per cent.
He said profits after tax grew by 39.4 per cent year on year, and earnings per share increased by 29.5 per cent year on year.
These impressive results demonstrate the company’s commitment to driving sustainable business growth in challenging times.
“MTN has remained unwavering in its commitment to better the lives of people in Ghana by supporting various environmental, social, and economic initiatives,” he added.
He said in addition to investing heavily in their network and technology in an environmentally sustainable way, the company dedicated GH₵39.8 million towards projects related to healthcare, education, and economic empowerment in 2023 through the MTN Ghana Foundation.
He said this was a testament to their vision of creating a better future for all Ghanaians and bringing about positive change to uplift communities.
MTN Ghana remained a development partner to the government through their contribution to the fiscal and socio-economic development of the country.
He said in 2023, the Company paid GH₵5.9 billion in direct and indirect taxes and GH₵O.4 billion in fees, levies, and other payments to Governmental agencies.
“Combined, this represented 47.1% of MTN’s total revenue paid to the Government for the 2023 financial year,” he added.
Mr Selorm Adadevoh, the outgoing Chief Executive Officer of MTN Ghana, said management remained focused on pursuing its Ambition 2025 goals, which aimed for growth, cost efficiencies and creating shared value for stakeholders
Source: myghanadaily
