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.