The MTN board has approved a final dividend of sh5.5 per share to shareholders for the year ended December 2022, the firm’s audited financial results show.

The sh5.5 proposal translates into a total payout of sh123b. MTN’s current dividend policy envisages payment of dividends three times a year.

This means if the annual general meeting approves, the MTN final dividend for the year 2022 will be paid on June 22, 2023, to shareholders after deducting applicable withholding tax.

“Profit after tax increased by 19.3% to sh406b, and as per our dividend policy, the board has approved a proposed dividend of sh5.5 per share to be paid out of net distributable income,” MTN said in a statement.

“This brings the total dividend for 2022 to sh15.9 per share up by 6.1% from the previous year reiterating our commitment to enhance shareholder value.”

Based on the audited financial statements and the Uganda Securities Exchange rules, it means any investor buying MTN Uganda shares after Monday, June 19, 2023 will not be entitled to the final dividend declared for the period. The final dividend will be paid on June 22, 2023 to shareholders on the company books as of June 1, 2023.

MTN revenues improved by 10.9% to sh2.2 trillion largely driven by growth in the data and fintech segments as well as growth in customer numbers.