- MTN Ghana has obtained authorisation to give shareholders the choice of receiving their final dividend payment of GHS0.124 per share for the fiscal year ended 31 December 2022 in cash or shares.
- The new mechanism, authorized at the firm’s fifth Annual General Meeting (AGM) on Tuesday, 30th May, 2023, through a ‘scrip dividend,’ allows them to raise their interest in the company without incurring any capital market-related transaction charges such as broker fees.
- According to a Ghana Stock Exchange release, “the minimum requirement to qualify for the scrip dividend or new ordinary shares is an entitlement to a gross final dividend equivalent to one hundred new ordinary shares (GHS129.35 or more) and subsequently an equivalent in blocks of ten shares (incremental of GHS12.93 per block).” “No fractional new ordinary shares will be issued,” the announcement explained further.
- By scrip dividend, investors are given the option of receiving extra shares rather than a cash dividend. According to the statement, any qualifying shareholder may choose to receive a new share for every cash dividend foregone.
- However, it was stated that if no choice was made, paying in cash would be the default.
- A eligible shareholder must complete the scrip election/mandate form and submit it to the Registrar (Central Securities Depository) no later than June 6, 2023, it continued, in order to choose to receive their final dividend in new ordinary shares.
- MTN Ghana has obtained authorisation to give shareholders the choice of receiving their final dividend payment of GHS0.124 per share for the fiscal year ended 31 December 2022 in cash or shares.
- The new mechanism, authorized at the firm’s fifth Annual General Meeting (AGM) on Tuesday, 30th May, 2023, through a ‘scrip dividend,’ allows them to raise their interest in the company without incurring any capital market-related transaction charges such as broker fees.
- According to a Ghana Stock Exchange release, “the minimum requirement to qualify for the scrip dividend or new ordinary shares is an entitlement to a gross final dividend equivalent to one hundred new ordinary shares (GHS129.35 or more) and subsequently an equivalent in blocks of ten shares (incremental of GHS12.93 per block).” “No fractional new ordinary shares will be issued,” the announcement explained further.
- By scrip dividend, investors are given the option of receiving extra shares rather than a cash dividend. According to the statement, any qualifying shareholder may choose to receive a new share for every cash dividend foregone.
- However, it was stated that if no choice was made, paying in cash would be the default.
- A eligible shareholder must complete the scrip election/mandate form and submit it to the Registrar (Central Securities Depository) no later than June 6, 2023, it continued, in order to choose to receive their final dividend in new ordinary shares.