Tuesday May 5, 2026
www.thenewsdesk.ng

Shareholders of MTN Nigeria Communications Plc have approved a final dividend of ₦314.93 billion for the 2025 financial year, alongside a proposed structural separation of the business.

The decisions were reached at the company’s Annual General Meeting (AGM) held virtually on April 30, 2026, where members endorsed a payout of ₦15 per ordinary share. This final dividend brings the total distribution for the 2025 financial year to ₦20 per share.

According to a statement released on Monday to the Nigerian Exchange Limited by Company Secretary Uto Ukpanah, the dividend will be paid on May 5, 2026, to shareholders whose names appeared in the register as of April 9, 2026, subject to applicable withholding tax.

In addition, shareholders re-elected several directors to the board, including Ernest Ndukwe, Mrs. Ifueko M. Omoigui Okauru, Mr. Jens Schulte-Bockum, Ms. Tsholofelo Molefe, and Mr. Muhammad K. Ahmad.

The AGM also authorized the board to fix the remuneration of external auditors, Ernst & Young, for the 2026 financial year and disclosed management remuneration to shareholders.

The composition of the statutory audit committee was approved, with shareholder representatives including Mr. Nornah Awoh, Mrs. Josephine Ewitat, and Mr. Michael Odili, while board representatives are Mr. Timothy Pennington and Mrs. Omoigui Okauru.

The company secretary further disclosed that remuneration for non-executive directors was fixed for the 2026 financial year, with the chairman set to receive ₦167.98 million and other non-executive directors ₦108.37 million each. These payments will be made periodically and are subject to inflation adjustments.

A key highlight of the meeting was the approval of a proposed structural separation transaction. The board was authorized to take all necessary steps to implement the plan, including engagement with regulators and professional advisers.

The company also secured a general mandate to enter into recurrent related-party transactions in the ordinary course of business, in compliance with Nigerian Exchange rules and other regulatory requirements.

MTN Nigeria, a subsidiary of the MTN Group, serves over 87 million subscribers nationwide and remains one of Africa’s largest telecommunications operators.

*NewsDirect