MTN Ghana shareholders get 70% of profit as dividend

MTN Ghana has declared GHS 0.115 dividend per share for the year 2021, and the Board Chairman, Ishmael Yamson says that means the company is paying out some 70.3 per cent of its profit after tax to shareholders.

May 30, 2022 - 18:00
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MTN Ghana shareholders get 70% of profit as dividend

MTN Ghana has declared GHS 0.115 dividend per share for the year 2021, and the Board Chairman, Ishmael Yamson says that means the company is paying out some 70.3 per cent of its profit after tax to shareholders.

He was speaking at the 4th Annual General Meeting of MTN Ghana since it became a public listed company four years ago.

The Chairman stated that profit after tax grew by 43% year on year to GHS2 billion in 2021, adding that the company therefore proposes to pay GHS0.085 dividend per share in addition to the GHS0.030 paid mid-year, making the total dividend per share for the year GHS0.115.

He noted that in the year under review, the world and Ghana continued to reel under the several consequences of Covid-19, which started as a health crisis but quickly turned into an economic, social and political one, with seven million deaths globally, food shortage, high inflation, loss of jobs and several other challenges.

In the midst of all those challenges, Ishmael Yamson noted that MTN Ghana continued to be the highest taxpayer in Ghana as it has always been over the years – paying some GHS3.1 billion taxes, out of which some GHS2.3 billion was direct and indirect taxes.

He said the taxes paid by MTN in 2021 constituted 43% of its total revenue for the year, and a significant portion of Ghana’s GDP, impacting over 500,000 Ghanaians in terms of direct and indirect jobs.

Mr. Yamson said in the year under review, the MTN Ghana Foundation spent a significant GHS14.3 million on various high impact projects in education, health and economic empowerment, particularly in the area of digital skills empowerment.

According to him, the company has earmarked some GHS20 million for corporate social investment in the year 2022 and they have already started rolling put projects in that respect.