MTN Nigeria Declares ₦314.93bn Final Dividend, Approves Structural Separation at AGM
MTN Nigeria Communications Plc has approved a final dividend of ₦314.93 billion for the 2025 financial year following resolutions passed at its Annual General Meeting held on April 30, 2026.
The dividend translates to ₦15 per ordinary share of 2 kobo, bringing the total dividend for the year to ₦20 per share.
Payment is scheduled for May 5, 2026, to shareholders on record as of April 8, 2026, subject to applicable withholding tax.
The payout reinforces MTN Nigeria’s position as one of the highest dividend-paying companies on the Nigerian Exchange and signals sustained cash flow strength despite macroeconomic pressures.
Shareholders also approved the company’s audited financial statements for the year ended December 31, 2025, alongside reports from directors, auditors and independent consultants on board performance.
Board and Governance Decisions
At the meeting, shareholders re-elected several board members, including Dr. Ernest Ndukwe, Mrs. Ifueko Omoigui Okauru, Mr. Jens Schulte-Bockum, Ms. Tsholofelo Molefe and Mr. Muhammad K. Ahmad.
The board was further authorised to determine the remuneration of external auditors, Ernst & Young, for the 2026 financial year.
Non-executive directors’ compensation was fixed at ₦167.98 million for the chairman and ₦108.37 million for each non-executive director.
The remuneration structure includes quarterly payments and provisions for inflation-linked adjustments in subsequent years.
The company also disclosed remuneration for its management team, in line with corporate governance requirements.
Audit Committee and Oversight
Shareholders elected three representatives—Mr. Nornah Awoh, Mrs. Josephine Ewitat and Mr. Michael Odili—to the statutory audit committee, alongside board representatives Mr. Timothy Pennington and Mrs. Ifueko Omoigui Okauru.
This composition strengthens oversight and aligns with regulatory requirements on corporate accountability and financial reporting transparency.
Strategic and Operational Approvals
A key highlight of the AGM was the approval of a proposed structural separation transaction. The resolution authorises the company to execute and implement the restructuring plan, including engaging advisers and complying with regulatory directives.
While details of the transaction were not disclosed in the resolution, structural separation typically involves reorganising business units to improve operational efficiency, unlock value and enhance regulatory compliance—particularly relevant in the telecommunications sector where infrastructure and service layers are increasingly separated.
In addition, shareholders granted a general mandate for MTN Nigeria to enter into recurrent related-party transactions necessary for day-to-day operations. These transactions will be conducted on normal commercial terms and in compliance with Nigerian Exchange rules and applicable regulations.
The mandate also covers director indemnification arrangements, either directly or through insurance structures.
Market Implications
The ₦314.93 billion final dividend underscores MTN Nigeria’s strong earnings capacity and commitment to shareholder returns. With a total dividend of ₦20 per share, the company remains a key income stock on the Nigerian Exchange.
The approval of the structural separation transaction introduces a strategic shift that could enhance long-term valuation by streamlining operations and potentially creating distinct revenue segments.
Meanwhile, the reaffirmation of governance structures, board composition and audit oversight reflects stability at the leadership level, which is critical for investor confidence.
Overall, the AGM resolutions position MTN Nigeria for continued operational optimisation, sustained dividend distribution and strategic restructuring aimed at long-term growth.
