Update: New MTN Nigeria retail shareholders eligible for 2021 dividend

Thousands of Nigerian investors who purchased MTN Nigeria Communications Plc (MTNN) shares during its initial public offering in December are qualified for the company’s newly declared dividend for 2021.

Primary Offer, an online platform that allows investors buy into offers in the Nigerian Capital Market, said this in a note to investors Wednesday. The platform is operated by the Nigeria Exchange Limited, NGX.

The notice followed the Securities and Exchange Commission’s approval of the allotment of shares from the sales, which investors oversubscribed by 139.5 per cent.

“All shares allotted under the offer for sale are eligible for the proposed dividend which will be paid on 28 April,” it said.

MTNN closed its Series 1 offer for sales of shares to the public, culminating in an allocation of 661.3 million shares to retail investors following a book-build last year.

MTNN made 575 million shares available but received a total application for 802 million units.

The public offer was first made known on November 26, 2021, which drew applications from 126,720 retail investors.

Primary Offer said subscribed shares will be credited to investors’ CSCS accounts on February 18.

MTN Nigeria announced its audited financial results for the year ended December 31, 2021, and proposed a final dividend of ₦8.57k per share.

It advised shareholders who are yet to receive their CSCS numbers to log in to www.primaryofferng.com and check their profile or contact their stockbroker.

“The promotional offer “1 free share for every 20 purchased” (subject to a maximum of 250 shares) will be allotted to investors who hold their shares for 12 months till 31 January, 2023,” it said.

Premium Times