Scancom Ghana Plc will pay a dividend of 17.5 percent per share to its shareholders by April 12, 2024, a release from the company said on Friday.
This follows approval given by the shareholders at the 6th Annual General Meeting (AGM) of Scancom Ghana plc, mother company of MTN Ghana Limited for the payment.
The dividend of 17.5 pesewas per share would be paid to all shareholders registered in the books by the close of business on Thursday, 28th March, added the statement from MTN Ghana Ltd.
In effect, each MTN share would receive a dividend 22.5 pesewas for the 2023 fiscal year following the interim dividend of 5.0 pesewas per share paid on 8 September 2023.
This payment represents 74.8 percent of profit after tax (GHS4.0 billion) for the year under review and a 37.2 percent increase in dividend payout per share, said the release.
The AGM held at the Grand Arena of the Accra International Conference Centre on March 22, 2024.attracted over 2,000 shareholders.
The Board Chairman for Scancom PLC, Ishmael E. Yamson, addressed shareholders during the AGM, indicating that MTN Ghana’s performance for 2023 was strong with total revenue growth of 34.6% Year-on-Year underpinned by good execution of the commercial strategy by management, resulting in growth in voice, data, and Mobile Money (MoMo) revenues.
“MTN has remained unwavering in its commitment to better the lives of people in Ghana by supporting various environmental, social and economic initiatives
“In addition to investing heavily in our network and technology in an environmentally sustainable way, MTN dedicated GHS39.8 million towards projects related to healthcare, education, and economic empowerment in 2023 through the MTN Chana Foundation.” Dr. Yamson indicated.
In his remarks, the outgoing Chief Executive Officer of MTN Ghana, Selorm Adadevoh, emphasized MTN’s commitment to driving growth and providing value for all stakeholders despite a challenging operating environment.
He said, “As we ploughed through a challenging operating environment, Management remained focused on pursuing its Ambition 2025 goals, which aimed for growth, cost efficiencies and creating shared value for our stakeholders.”
As a result, he said MTN Ghana recorded revenue growth and managed its costs prudently to ensure a growth of 39.4 percent in profit after tax for the year 2023.
Touching on MTN’s Ambition 2025 goals, Mr. Adadevoh said “Despite the challenging economic outlook, Management remains fully committed to executing its Ambition 2025 strategy. We are committed to strengthening customer trust and loyalty in all we do by striving for excellence in how we deliver service to our valued customers.”
“Our unwavering focus is to create value for all stakeholders and drive growth by investing efficiently in infrastructure, improving connectivity and launching innovations and product enhancements for our customer,” Adadevoh added.
Empowered by the strong demand for data and its rapid adoption in both urban and rural areas, we aspire to drive the acceleration of smartphone usage and address the immense need for high-speed internet in the home broadband market, said the outgoing CEO
“With our unwavering commitment to attracting the best talent and forging strategic partnerships, supported by our strong brand presence and positive reputation, we are poised to sustain our business growth and drive profitability while making a positive impact on the Ghana economy,” Mr. Adadevoh added.
Since listing on the Ghana Stock Exchange (GSE) in 2018, MTN has maintained its position as the organisation with the largest number of Ghanaian shareholders.