MTN shareholders to receive dividend in cash or new ordinary shares
Shareholders of MTN Ghana are to receive their dividends in cash or in new ordinary shares.
This is subject to the adoption of Special Resolution 3 at the May 30, 2023 Annual General Meeting (AGM).
According to a statement from the leading telecom firm, the minimum requirement to qualify for the scrip dividend or new ordinary shares is an entitlement to a gross final dividend equivalent to 100 new ordinary shares (¢129.35 or more) and subsequently an equivalent in blocks of 10 shares (incremental of ¢12.93 per block).
No fractional new ordinary shares will however be issued.
In line with the computation mechanism set out in Special Resolution 3 or the Scrip dividend guideline, the firm stated that every qualifying shareholder may choose to receive a new share for every cash dividend forgone, adding, if no selection is made, the default option will be payment in cash.
For a qualifying shareholder to elect to receive a final dividend in new ordinary shares, he/she must complete the scrip election/mandate form and submit to the Registrar (Central Securities Depository) no later than June 6, 2023.
The dividend to be paid is ¢0.124 per share for the 12-month period ending December 31, 2022.
Source: Ghana News