• About Us
  • Contact Us
  • Privacy & Policy
Sunday, June 8, 2025
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
Advertisement
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
No Result
View All Result

Airtel Africa Defies Downturn: Telecom’s Dividend Payout Stands Out Amid Industry Challenges

Vincent Amadi by Vincent Amadi
June 7, 2024
in Economy, News
Reading Time: 2 mins read
A A
0
Airtel Africa Defies Downturn: Telecom’s Dividend Payout Stands Out Amid Industry Challenges
Share on FacebookShare on TwitterShare on WhatsappShare on EmailShare on Telegram


Airtel Africa will pay a final dividend of N276 billion for 2023, despite a net loss of $89 million (N133 billion) for the financial year ending March 31, 2024. This is stated in corporate consulting with the Nigerian Exchange Corporation (NGX). With the group announcing a return of 3.57 US cents per share for the 2023/2024 financial year.
The Group also set the final dividend exchange rate at 1,485.99/$ for 2023.
The Group, one of Africa’s leading mobile money and telecommunications services providers, present in 14 countries across Africa, previously paid an interim dividend of 2.38 US cents per share at an exchange rate of N858.24/$ in December 2023. Amount interim dividend payment amounting to 76.8 billion naira Reports have that Airtel Africa’s dividend payment has received applause from shareholders, at a time when most companies in telecommunications, food and beverages, and other sectors otherwise, do not pay dividends.


Although MTN Group, the parent company of MTN Nigeria Communications PLC, has paid dividends to shareholders, the Nigerian subsidiary has not declared any dividends at its Annual General Meeting (AGM) held recently. Other food and beverage companies also did not pay dividends amid shareholder complaints. But Airtel Africa chose to take a different route by declaring a dividend of 3.57 US cents per share for the 2023/2024 financial year.
At this exchange rate, Airtel’s final dividend in Naira is approximately 53.05 Naira per share, which represents a dividend yield of 2%. The company’s filings also indicate that the final dividend was paid on July 26, 2024, to shareholders on the register at the close of trading on June 21, 2024.
According to the company, shareholders holding their shares on the London Stock Exchange can choose to receive dividend payments in British Pounds or US Dollars. The statement added: “The closing date for the selection of dividend currency with the Limited Coroner Registrar in Nigeria is 8 July 2024. “Shareholders hold their shares on NSE does not indicate which currency of their choice before July 8, 2024, will receive dividends in Nigerian naira.

According to former Secretary of the Independent Shareholders Association of Nigeria (ISAN), Adeleke Adebayo, said, “The payment of dividends depends on the amount of retained profits. Companies are allowed to pay dividends from retained earnings, i.e. past profits that the company has retained. So if they are confident that the business will do well, they will overcome the current challenges and they have enough retained earnings reserves then you can still pay dividends from retained earnings, This is allowed by law. I think that’s what they paid for.” Speaking further, he said, “I think the main problem that most of these companies are facing has to do with the foreign exchange conversion process, but you also need to know that this is not Airtel Nigeria. This is Airtel Africa, their revenue and everything is not just based on the economy of Nigeria.”

Tags: business
Vincent Amadi

Vincent Amadi

Related Posts

Famous “Gwo Gwo Gwo ngwo” singer, Mike Ejeagha, dies at 95
Entertainment

Famous “Gwo Gwo Gwo ngwo” singer, Mike Ejeagha, dies at 95

1 day ago
Pastor Paul Adefarasin points gun at content creator from Range Rover
National

Pastor Paul Adefarasin points gun at content creator from Range Rover

1 day ago
Dangote refinery is Tinubu’s brainchild – Aliko
Economy

Dangote refinery is Tinubu’s brainchild – Aliko

2 days ago
FG will revive cocoa industry – Shettima
Economy

FG will revive cocoa industry – Shettima

5 days ago

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

NATIONS NEWS

Pastor Adefarasin denies trending firearm video, says he was hurt by false claims
National

Pastor Adefarasin denies trending firearm video, says he was hurt by false claims

2 hours ago
June 12: Pressure Mounts on Tinubu to Reinstate Suspended Fubara 
National

June 12: Pressure Mounts on Tinubu to Reinstate Suspended Fubara 

2 hours ago
Implement Uwais Report on Electoral Reform – Ag. Labour Party Chair tells FG
National

Implement Uwais Report on Electoral Reform – Ag. Labour Party Chair tells FG

2 hours ago
Matawalle to Gov Lawal: Join APC now, stop playing hide-and-seek game
National

Matawalle to Gov Lawal: Join APC now, stop playing hide-and-seek game

2 hours ago
Donald Trump and Elon Musk fight dirty in heated online war
International

Trump warns Elon Musk of ‘serious consequences’ if he funds Democrats

2 hours ago
Traditional Superiority: Alaafin Denies Rift With Ooni Of Ife, During Visit To Oluwo
National

Traditional Superiority: Alaafin Denies Rift With Ooni Of Ife, During Visit To Oluwo

1 day ago

POLITICS

SDP Senator Leaves Party, Says He Can’t Stay In Same Party With El-Rufai

SDP Senator Leaves Party, Says He Can’t Stay In Same Party With El-Rufai

2 hours ago
Matawalle to Gov Lawal: Join APC now, stop playing hide-and-seek game

Matawalle to Gov Lawal: Join APC now, stop playing hide-and-seek game

2 hours ago
Akwa Ibom: Assembly Members, Others Rejects Eno’s Defection Order

Akwa Ibom: Assembly Members, Others Rejects Eno’s Defection Order

1 day ago
Breaking News: Akwa Ibom’s Umo Eno joins APC, dumps PDP.

Breaking News: Akwa Ibom’s Umo Eno joins APC, dumps PDP.

2 days ago
Don’t aspire to be President if you cannot resolve crisis in your “small party” – Akpabio challenges Peter Obi

`Please return home to our party,ʼ PDP begs Peter Obi

2 days ago
Group Fires Back At Wike Over Betrayal Allegations Against Makinde, Mbah.

Wike debunks existence of “Cabal” in Tinubu’s government

3 days ago

YOUR ECONOMY

Dangote refinery is Tinubu’s brainchild – Aliko
Economy

Dangote refinery is Tinubu’s brainchild – Aliko

2 days ago
FG will revive cocoa industry – Shettima
Economy

FG will revive cocoa industry – Shettima

5 days ago
Nigerian companys take priority over foreign businesses with “Nigeria First Policy” 
Economy

Tinubu seeks $25 billion Nigeria-Morocco gas pipeline investment

5 days ago
Development bank disbursed N1 trillion to MSMEs – MD
Economy

Development bank disbursed N1 trillion to MSMEs – MD

1 week ago
Becoming AfDB president greatest honour of my life – Adesina
Economy

Becoming AfDB president greatest honour of my life – Adesina

2 weeks ago
Dangote Refinery Drops Pump Prices Again with a Price Range between 875 and ₦905 Nationwide
Economy

Dangote Refinery Drops Pump Prices Again with a Price Range between 875 and ₦905 Nationwide

2 weeks ago

E & P

France beat Germany to third place at Nations League
Sports

France beat Germany to third place at Nations League

by Steven Atogi
3 hours ago
0

France had a terrible time against Spain last week in the nations league, losing 5-4 at the Semi-final. Spain's victory...

Breaking: Victor Osimhen to earn ₦4.7billion monthly at Al Hilal

Breaking: Victor Osimhen to earn ₦4.7billion monthly at Al Hilal

3 hours ago
Ballon d’Or: Ronaldo tips Dembele, Says Champions League Winner Should Be Crowned.

Ballon d’Or: Ronaldo tips Dembele, Says Champions League Winner Should Be Crowned.

1 day ago
Famous “Gwo Gwo Gwo ngwo” singer, Mike Ejeagha, dies at 95

Famous “Gwo Gwo Gwo ngwo” singer, Mike Ejeagha, dies at 95

1 day ago
Breaking: Al Hilal submits €70m proposal to Napoli for Osimhen

Breaking: Al Hilal submits €70m proposal to Napoli for Osimhen

1 day ago
God Has Chosen Davido to be  President of Nigeria – South Africa Based Nigerian Pastor John Anosike Prophesies

God Has Chosen Davido to be  President of Nigeria – South Africa Based Nigerian Pastor John Anosike Prophesies

2 days ago

YOUR THOUGHT & HISTORY

ON THE PUBLIC NUISANCE CALLED SOWORE
Opinion

ON THE PUBLIC NUISANCE CALLED SOWORE

by Kiikpoye Karibo
3 months ago
Data Visualizations
Columns

Five Key Considerations for Creating Effective Data Visualizations

by Blessing Chinyere Daniel
5 months ago
The Transformative Power of AI in Revolutionizing Industries and Empowering Growth
Columns

The Transformative Power of AI in Revolutionizing Industries and Empowering Growth

by Blessing Chinyere Daniel
6 months ago
Navigating the Turbulent Terrain of Entrepreneurship: The Power of Tenacity, Growth Mind-set, and Grit
Columns

Navigating the Turbulent Terrain of Entrepreneurship: The Power of Tenacity, Growth Mind-set, and Grit

by Uloma Harrison-Ikenwanze
6 months ago
The Power of Data in Today’s World
Columns

The Power of Data in Today’s World

by Blessing Chinyere Daniel
6 months ago

Who we are

Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history

Welcome to Umpire News, your go-to online newspaper dedicated to broadening perspectives and expanding the horizons of our numerous readers. Read more

Browse by Category

  • Columns
  • Economy
  • Editorial
  • Entertainment
  • International
  • National
  • News
  • Opinion
  • Politics
  • Sports
  • Trends

Recent News

Pastor Adefarasin denies trending firearm video, says he was hurt by false claims

Pastor Adefarasin denies trending firearm video, says he was hurt by false claims

June 8, 2025
June 12: Pressure Mounts on Tinubu to Reinstate Suspended Fubara 

June 12: Pressure Mounts on Tinubu to Reinstate Suspended Fubara 

June 8, 2025
  • About Us
  • Contact Us
  • Privacy & Policy

© 2024 Copyright Umpirenews. All rights reserved

No Result
View All Result
  • Home
  • National
  • Economy
  • Politics
  • Sports
  • Entertainment
  • Editorial
  • Opinion
  • Columns

© 2024 Copyright Umpirenews. All rights reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
🤑Join & Get Our Easter Gifts 🤑

Enter your NAME & Email NOW!!

Be among the 1st 100 lucky WINNERS to win our Amazing GIFTs this Easter Period as you READ our Daily hot NEWs & make meaningful comments and follow us on our social media handles.

Name
Enter your email address