MTN Nigeria Adds 1.7m Subscribers in 3 Months

The Company in a recent statement also said it has paid N174.54 billion in dividend to its shareholders.

The resolution, according to the Company was reached at its annual general meeting recently held in Lagos.

According to the report, MTN said its active data subscribers rose by 10.5 per cent year-on-year to 35.9 million, with 1.6 million added in Q1.

“Although our mobile subscriber base declined by 1.9 per cent YoY from 71.5 million in March 2021 to 70.2 million, we sustained the growth trajectory from Q4 2021 as we ramp up capacity for SIM registration and NIN enrolment,” it said.

“As a result, we added 1.7 million subscribers in Q1 2022. In addition, active data subscribers rose by 10.5 per cent year-on-year to 35.9 million, with 1.6 million added in Q1.”

On the regulatory front, the Nigerian Communications Commission (NCC) had required all operators to restrict outgoing calls for subscribers whose SIMs were not associated with national identity numbers (NINs).

MTN Nigeria said the dividend payment of N8.57 kobo per every 2 kobo ordinary share were paid to shareholders whose names appear on the register of members as at close of business on April 6.

“A dividend payment in the total sum of N174.53bn (One hundred and seventy-four billion, five hundred and thirty million Naira) which translates to N8.57 Kobo per every 2 Kobo ordinary share; to shareholders whose names appear in the Company’s Register of Members at the close of business on Wednesday, 6 April 2022 (bringing the local dividend for the year ended 31 December 2021 to N13.12, subject to withholding tax, be and is hereby approved,” the statement reads.

“The Audited Financial Statements for the year ended 31 December 2021 together with the Reports of the Directors, Auditors and Audit Committee as laid before Members at the Annual General meeting be and are hereby received.”

Last year, MTN Group sold up to 575 million shares held in MTN Nigeria at N169 per share to retail investors.

The offer was oversubscribed by 139 percent — culminating in 661.25