Shareholders of MTN Ghana will in the coming days receive three pesewas per share in dividends from the telecom company, the decision was taken by the directors of the company upon the publication of its financial statement for 2018.
However, after eight (8) months trading on the Ghana Stock Exchange, the stock price of MTN has dropped 6.67 per cent.
MTN Ghana will on Tuesday May 14, 2019 hold its maiden Annual General Meeting following its listing on the Ghana Stock Exchange.
The telecom company is the first within the industry to list on the stock market as part of regulatory requirements after the purchase of the 4G spectrum license.
Though the share price commenced trading at 75 pesewas in September 2018, it had dropped to 70 pesewas per share as at the close of trading on Friday [May 10, 2019].
The payment of dividend is on the back of a strong business performance and growth in revenues at all service offering fronts. Total service revenue grew by 23.5% from data, voice and digital revenue (mobile money).
In all, MTN subscriber base increased by 12.7% from 2017 to 20.1 million subscribers in 2018. This still makes them the number one telecoms operator in Ghana. The year 2019 has been declared as the ‘year of the customer’. Activities within the 2018 financial year that may support this mantra is the over 600 2G sites, 1,100 3G sites and 250 4G sites that were rolled out within the year.
The expansion activities could have led to the profound growth of the subscriber base.