MTN Ghana pays dividend of GH₵34.5m to SSNIT
By Christabel Oboshie ANNAN, Accra
MTN Ghana, has presented a cheque of GH₵34.5 million (GH₵34, 581, 713. 52) to the Social Security and National Insurance Trust (SSNIT) as dividend accrued from the company’s operations in 2022 and the interim dividend of 2023.
The 2023 interim dividend was GH₵9.9 million, while the 2022 was GH₵24 million.
SSNIT is the largest Ghanaian shareholder of MTN Ghana.
Chief Financial Officer of MTN, Mrs Antoinette Kwofie, who presented the cheque said the final dividend for 2022 was 12.4 pesewas per share, which brought the total dividend for 2022 to 16.4 pesewas for every share that a shareholder holds in MTN Ghana.
She added that the interim dividend for 2023 is five pesewas per share.
She noted that SSNIT has been a valuable partner and one of the top three shareholders since MTN listed on the Ghana Stock Exchange in September, 2018.
She indicated that since MTN was listed on the Ghana Stock Exchange, it has paid about a GH₵103.1 Million to SNNIT, which includes the 34.6 million presented.
“We are excited that that MTN is able to contribute GH₵103.1 Million to SNNIT as dividend to their coffers to support their strategic mandate of providing income security for workers in Ghana,” she stressed.
She encouraged the leadership of SSNIT to keep their investment within the MTN family and possibly increase their investment as MTN seeks to localise in the country.
She further said that shareholders should expect MTN to deliver to the market and grow revenues as well as protect the margins and maintain the dividend pay-out ratio above 70%.
Mrs Kwofie said MTN Ghana was committed to building a sustainable business and providing sustainable solutions to its customers as well as stakeholders.
She thanked the leadership of SSNIT for their continued faith and partnership with MTN, adding that they look forward to meeting their medium and long term targets together.
Director General of SSNIT, Dr John Ofori- Tenkorang, said that the cheque is an investment and it’ returns to deliver pension payment for life to stakeholders.
He stated that they are glad to see that their investments have made very good dividend and shows that not all SSNIT investments are bad.
He added that they will continue to adhere to their mandate of collecting contributions from workers and pay out their benefits through sustained and prudent investment.
