MTN Uganda pays out Shs105b as dividends within first year of listing

MTN Uganda Limited has announced that it will pay out a final dividend of UGX4.706 per share for the year ended 31 December 2021.

In a statement issued on Wednesday, 01 June 2022, MTN said the final dividend payment was reached at the company’s annual general meeting held on Friday 27 May 2022. MTN Uganda paid out a total dividend of Ugx105.4 billion to its 21,452 shareholders for the year ended 31^st December 2021.

During the same meeting, the audited accounts for the year ended 31 December 2021 together with the reports of the Directors and Auditors thereon were adopted.

“The books closure date for entitlement to the final dividend is 1 June 2022. Only shareholders registered in the books of the Company at close of business on that date are entitled to receive the final dividend,” the company said.

“The books closure date for entitlement to the final dividend is 1 June 2022. Only shareholders registered in the books of the Company at close of business on that date are entitled to receive the final dividend,”

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The dividend will be paid electronically to the nominated bank accounts or mobile money wallets of eligible shareholders on 24 June 2022, the company said.

The meeting also reappointed PricewaterhouseCoopers as the external auditor of the Company for the audit relating to the financial year ending 31 December 2022 and up to the conclusion of the next AGM in 2023.

As part of the requirements to renew MTN Uganda’s license, the Uganda Communications Commission ordered the telecom company to list 20 per cent of its shares to the public.

MTN Uganda in December 2021 listed on the Uganda Securities Exchange (USE) having raised Shs535.9b (or $151m) from its IPO. This represented 60 percent of its target amount after it launched its IPO in October, pricing 4.5 billion shares on sale at Shs200 apiece.