MTN Ghana has presented a cheque of GHS34,581,713.52 to the Social Security and National Insurance Trust (SSNIT) as payment of the final dividend for the year ended 2022 and 2023 interim dividend paid in June and September 2023.
The presentation follows the approval of the final dividend of 12.4 pesewas on ordinary shares at its Annual General Meeting held earlier this year, bringing the total dividend for the 2022 financial year to 16.4 pesewas per share and the declaration of an interim dividend of 5.0 pesewas per share for the 2023 financial year.
Antoinette Kwofie, Chief Finance Officer of MTN Ghana, presented the cheque to SSNIT and thanked the leadership of SSNIT for their continued faith and partnership with MTN Ghana. She also emphasized the company's unwavering commitment to realizing its Ambition 2025 strategy which will unlock value for all stakeholders.
She noted, “SSNIT has been a valuable partner and part of our top 3 shareholders since MTN went public and listed on the Ghana Stock Exchange in September 2018. So, today, we are here to show our appreciation by presenting a cheque for dividends paid to SSNIT in 2023 which are the 2022 final dividend and 2023 interim dividend. SSNIT has been with us since MTN’s listing, as our largest Ghanaian or local shareholder, and has been a beneficiary of dividends paid to our shareholders. We are excited that MTN is able to contribute through dividends, to the coffers of SSNIT to support its strategic mandate of providing income security for workers in Ghana.” “MTN remains committed to driving growth, creating shared value and unlocking opportunities for all our stakeholders through our Ambition 2025 strategy. Despite a challenging macroeconomic environment and strong economic headwinds, MTN recorded some impressive financial results and increased the total dividend paid for the 2022 financial year by 42.6% compared to the total dividend paid in 2021. We would like to thank SSNIT for the trust they have bestowed in us, and we look forward to creating more value in the coming years.”
Director General of SSNIT, Dr. John Ofori-Tenkorang, commended MTN Ghana for the remarkable progress and growth of the business since listing and pledged the support of SSNIT as strategic investors and partners of MTN and looked forward to more dividend payments in the coming years. Dr John Ofori-Tenkorang in his concluding remarks, advised MTN to prioritize growth of the business and delivery of quality service to its customers.
Antoinette Kwofie, assured SSNIT of MTN’s commitment to keep the customer at the core of every service and product of the company and reiterated MTN’s commitment to its medium-term target of high-twenties growth in revenue, maintaining its margins and an above 60 percent dividend pay-out ratio.
The MTN team also used the opportunity to engage the SSNIT leadership on how to further deepen and strengthen their partnership.
Earlier this year, during its Annual General Meeting, MTN Ghana reaffirmed its commitment to continued investment in infrastructure to enhance the capacity and quality of connectivity and other related services, adoption of new, innovative digital initiatives and solutions, deepen ongoing work to improve its platforms and create shared value to improve the lives of Ghanaians and all its stakeholders.
Presentation of Dividend at SSNIT.