• About Us
  • Contact Us
  • Privacy & Policy
Monday, August 25, 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

Manufacturing and agric sectors decline threaten Nigeria’s industrialisation
Economy

Manufacturing and agric sectors decline threaten Nigeria’s industrialisation

11 hours ago
None of my PAs earn less than N1m, don’t listen to contrary claim — Gov Eno
National

None of my PAs earn less than N1m, don’t listen to contrary claim — Gov Eno

2 days ago
FG launches initiative to cut overhead cost
Economy

FG launches initiative to cut overhead cost

3 days ago
Nigeria Consul-General in Cameroon, Ambassador Coker is dead
News

Nigeria Consul-General in Cameroon, Ambassador Coker is dead

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

Peter Obi, El-Rufai Granted Waiver Ahead 2027 Election
National

Declare emergency in Katsina, Zamfara over killings —ADC tells Tinubu

12 hours ago
Benue assembly speaker resigns, suspended lawmaker elected new speaker
National

Benue assembly speaker resigns, suspended lawmaker elected new speaker

12 hours ago
Peter Obi Can Return to PDP Without Wike Obstruction – Jacob Mark
National

PDP NEC to receive zoning report today as convention crisis deepens

12 hours ago
INEC Receives 110 Applications from Associations Seeking Registration as Political Parties Ahead of 2027 Elections(see list)
National

Hitches in by-election results in 12 states spark renewed calls on next INEC Chairman

1 day ago
Tinubu nominates 39-year old Abdullahi Ramat as new NERC Chairman
National

2027: Tinubu will retain seat as President even if new INEC chairman’s son contests – APC

1 day ago
Civil society organisations commend interpol’s rejection of EFCC `wantedʼ declaration of Bashir Haske
National

Civil society organisations commend interpol’s rejection of EFCC `wantedʼ declaration of Bashir Haske

1 day ago

POLITICS

Governors’ political meeting at scene of mass murder insensitive — ADC faults Zamfara PDP meeting

Governors’ political meeting at scene of mass murder insensitive — ADC faults Zamfara PDP meeting

12 hours ago
Peter Obi, El-Rufai Granted Waiver Ahead 2027 Election

No one can hijack Abia ADC won’t succeed – suspended ADC ex-Chair, Obinna

1 day ago
2027: Why Peter Obi may return to PDP

2027: PDP moves to exact deterrent on Osun lawmakers for defecting to APC

5 days ago
Nigeria and Brazil to sign MoU on direct flight

APC-PCC members accuse Tinubu of marginalisation over appointments

6 days ago
Seven Akwa Ibom Lawmakers Defect to APC, Citing Party Divisions

Edo APC demands party secretary’s resignation over alleged marginalisation

6 days ago
INEC can’t conduct free, fair election under Tinubu – Buba Galadima

INEC can’t conduct free, fair election under Tinubu – Buba Galadima

6 days ago

YOUR ECONOMY

Manufacturing and agric sectors decline threaten Nigeria’s industrialisation
Economy

Manufacturing and agric sectors decline threaten Nigeria’s industrialisation

11 hours ago
FG launches initiative to cut overhead cost
Economy

FG launches initiative to cut overhead cost

3 days ago
Grant tax relief to media houses —Ex-NNPCL spokesman tells FG
Economy

Grant tax relief to media houses —Ex-NNPCL spokesman tells FG

5 days ago
Rice farmers blame middlemen for continuous price hike
Economy

Rice farmers blame middlemen for continuous price hike

1 week ago
Naira appreciates against dollar on the weekend
Economy

Naira appreciates against dollar on the weekend

1 week ago
Largest shea butter refinery in Africa begins operation in Niger State
Economy

Largest shea butter refinery in Africa begins operation in Niger State

2 weeks ago

E & P

The Rise And Fall Of Sports Institute, Isaka
Columns

The Rise And Fall Of Sports Institute, Isaka

by Tammy Opoki
1 day ago
0

The quest to develop sports at the grassroots level in Nigeria necessitated the conversion of Government Sea School, Isaka, in...

KTF Launches Free Youth Tennis Clinic in Port Harcourt

KTF Launches Free Youth Tennis Clinic in Port Harcourt

1 week ago
‘It’s a shame’ – Ex-Newcastle striker, Andy Carroll blasts Isak over transfer move

‘It’s a shame’ – Ex-Newcastle striker, Andy Carroll blasts Isak over transfer move

1 week ago
NPFL Suspends S’Eagles Goalkeeper Over Betting Allegations

NPFL Suspends S’Eagles Goalkeeper Over Betting Allegations

2 weeks ago
CAF Ranking: Rivers United Emerged Top club in Nigeria

CAF Ranking: Rivers United Emerged Top club in Nigeria

2 weeks ago
National Youth Games: NSC  Give Asaba Facilities  Pass Mark, Confirms Date

National Youth Games: NSC  Give Asaba Facilities  Pass Mark, Confirms Date

2 weeks ago

YOUR THOUGHT & HISTORY

The Rise And Fall Of Sports Institute, Isaka
Columns

The Rise And Fall Of Sports Institute, Isaka

by Tammy Opoki
1 day ago
Tribute to Old Port Harcourt Boy (Peter Rufai)
Columns

Tribute to Old Port Harcourt Boy (Peter Rufai)

by Tammy Opoki
1 month ago
A Democracy Strained: Buhari’s Human Rights Record and the Repression of Dissent
Columns

A Democracy Strained: Buhari’s Human Rights Record and the Repression of Dissent

by Odini Brains
1 month ago
El-Rufai Plans New Party as ADC Backup Against APC Interference
Columns

The Shadow Strategist: El-Rufai, the Illusion of Power, and 2027’s Looming Reckoning

by Odini Brains
2 months ago
Columns

Kidnapped, Silenced, Vindicated: The Full Impact of Kanu’s Judgment

by Odini Brains
2 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

Manufacturing and agric sectors decline threaten Nigeria’s industrialisation

Manufacturing and agric sectors decline threaten Nigeria’s industrialisation

August 25, 2025
Peter Obi, El-Rufai Granted Waiver Ahead 2027 Election

Declare emergency in Katsina, Zamfara over killings —ADC tells Tinubu

August 25, 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