MTN Nigeria Declares N3.50 as interim dividend from a PAT of 94.8Billion in Half Year 2020.

Must Read

Africa’s biggest grocery retailer, Shoprite exits Nigeria

Shoprite is exiting the continent's most populated country, Nigeria, after 15 years of operation. The retail giant initiated a...

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

MTN Nigeria Communications Pic, MTN Nigeria, one of Africa’s largest providers of communications services which has a clear vision to lead the delivery of a bold, new digital world. today announces its unaudited results for the six months ended 30 June 2020.

In line with MTN Nigeria’s dividend policy, the Board of Directors has approved an interim dividend of N3.50 kobo per share to be paid out of distributable net income.

Major Highlights

  • Service revenue increased by 12.6% to 637 Billion Naira
  • Data revenue rose by 57.6%
  • Revenue from digital services rose by 121.85
  • Revenue from Fintech services (airtime lending and MOMO agent services) rose by 29.6%
  • 6.8 Million users were added to the network bringing the total number of subscribers to 71.1Million
  • 3.8 Million new data subscribers were added bringing active data users to 29 Million
  • Mobile Money (MOMO) subscribers increased by 1.6Million to 2.2 Million
  • 95% of debts are in local currency as such the balance sheet can withstand currency devaluations and volatility.
  • Voice revenue accounted for 67.9% of Service revenue
  • Data revenue is 24.2% of service revenue
  • 4 Million new smartphones were added to the network within the period
  • Operating Expenses rose by 24.1%
  • PAT declined by 4.7% to 94.8 Billion
  • Profit for the period was impacted by the increase in Finance costs as a result of increased from 295 Billion in June 2019 to 524 Billion in June 2020.
  • Generated Net Cash from all activities of 120Billion of which operating cash flow was 213 Billion showing strong ability to generate cash.
Read Also:  Okitipupa-Igbokoda Bypass ’ll offer alternative route

Unless otherwise stated. financial information is year-on-year (YoY. H1 2020 versus H1 2019) and nonfinancial information is year-to-dare (lune 2020 versus December 2019).

- Advertisement -
MTN Nigeria Declares N3.50 as interim dividend from a PAT of 94.8Billion in Half Year 2020. - Brand SpurMTN Nigeria Declares N3.50 as interim dividend from a PAT of 94.8Billion in Half Year 2020. - Brand Spur

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Read Also:  MTN Nigeria Clarifies Media Reports Regarding Implementation of USSD End User Billing Model

This site uses Akismet to reduce spam. Learn how your comment data is processed.

MTN Nigeria Declares N3.50 as interim dividend from a PAT of 94.8Billion in Half Year 2020. - Brand SpurMTN Nigeria Declares N3.50 as interim dividend from a PAT of 94.8Billion in Half Year 2020. - Brand Spur

Latest News

A Decade in Peerless Excellence – GTBank is Nigeria’s Best Bank for a record extending 10 Times

Guaranty Trust Bank Plc (GTBank) has long been regarded by industry watchers as one of the best run financial...

Diageo profits plunge 47% as pandemic hits global demand

Diageo today admitted profits for the past year plunged 47% hit by the closure of the on-trade activities and the cancellation of sports events...

Diageo Plc announces change to its Board of Directors

Diageo announces that Ho KwonPing will retire as a Non-Executive Director, effective 28 September 2020. Ho KwonPing has served on Diageo plc’s Board of Directors...

H1 2020: Sterling Bank reports a 4.4% decline in profit after tax to N5.4bn

Sterling Bank Plc, a full service national commercial bank releases its unaudited results for the half-year ended June 30, 2020. The Bank’s results released on...

UACN Plc Reverses Self on Plan to Unbundle UPDC amid Credible Offer by Custodian Investment Plc

On Monday, August 3, 2020, UAC of Nigeria Plc notified the Nigerian Stock Exchange, Securities and Exchange Commission, Shareholders and the investing community that...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -MTN Nigeria Declares N3.50 as interim dividend from a PAT of 94.8Billion in Half Year 2020. - Brand SpurMTN Nigeria Declares N3.50 as interim dividend from a PAT of 94.8Billion in Half Year 2020. - Brand Spur