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African Eye ReportAfrican News, Business, Ghana, Nigeria, Kenya, South Africa, Oil, Gold, Cocoa, Elections, EconomySSNIT Receives GH¢ 9.9 Million as Dividend From MTN Ghana | African Eye Report
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SSNIT Receives GH¢ 9.9 Million as Dividend From MTN Ghana

MTN executives present the cheque to SSNIT executives

Accra, Ghana, May 15, 2019//-MTN Ghana, a day after its maiden Annual General Meeting, has paid out a total dividend of over GH¢9.9 million to its third largest shareholder the Social Security and National Insurance Trust (SSNIT).

This follows approval of a final dividend of 3 pesewas per share by shareholders of MTN at the AGM yesterday (May 14, 2019). This brings the total dividend payable to 5 pesewas per share after MTN declared an interim dividend of 2 pesewas per share in November 2018.

Speaking to Citi Business News after receiving the total dividend payout on behalf of SSNIT, the Deputy Director-General in charge of Finance and Administration at SSNIT Michael Addo, said the amount being paid by MTN Ghana in less than a year of investment, is indicative of the telecom company’s strong performance in the past year.

“In July 2018, during MTN’s IPO we acquired about 198.7 million shares at 75 pesewas per share. So if in less than a year they are paying us this (GH¢9,937,274), I would have to say that it is commendable. We would, however, like to see more and we’re confident MTN will deliver in the coming year. ”

This article was originally published by http://citibusinessnews.com.

 

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