PBT of N298.87bn from N291.27bn
MTN Nigeria announced a groundbreaking performance for the financial year ended December 31st, 2020 with a revenue of N1.34 trillion and a dividend of N5.90 per shareholder. The result which was posted on the Nigerian Stock Exchange (NSE) website had the following highlights:
Generated N1.34trn revenue in 2020 from N1.16trn in 2019 indicating a 15.1 percent increase
A significant part of the revenue was contributed by voice revenue, N766.4 billion versus N725.5 billion, while data revenue contributed N332.4 billion in contrast to N219.4 billion in 2019.
However, the direct network operating costs increased to N310.3 billion from N246.6 billion as a result of a rise in BTS leases to N225.6 billion from N170.1 billion, a jump in the regulatory fees to N34.8 billion from N30.3 billion, and a rise in the network maintenance to N48.6 billion from N45.2 billion.
Operating profit also increased by 8.5 percent to N426.71 billion from N393.22bn
Profit for the year increased to N205.21bn from N203.28 billion showing a 0.90 percent increase
Total equity jumped by 22.3 percent to N178.38bn from N145.85bn recorded in the comparable year of 2019.
Market capitalisation as at year end increased by 61.8 percent to N3.45bn from N2.13bn
Number of shares issued and fully paid as at year end was N20.35trn
The Board of Directors recommend the payment of a final dividend of N5.90 per ordinary share of 2 kobo each subject to shareholders’ approval at the forthcoming Annual General Meeting (AGM). If the proposed final dividend is approved, the total dividend for the financial year ended 31 December 2020 will be N9.40 per share of 2 kobo each.