Home » MTN Ghana Rewards SSNIT with Over GH¢34m Dividend

MTN Ghana Rewards SSNIT with Over GH¢34m Dividend

by Victor Adetimilehin

MTN Ghana, the leading mobile network operator in the country, has paid a total of GH¢34,581,713.52 to the Social Security and National Insurance Trust (SSNIT) as dividend for the years 2022 and 2023. SSNIT is the largest Ghanaian shareholder of MTN Ghana, owning 2.5 per cent of the company’s shares.

The cheque was presented by Mrs Antoinette Kwofie, the Chief Financial Officer of MTN Ghana, to Dr John Ofori-Tenkorang, the Director-General of SSNIT, at a ceremony in Accra on Wednesday. Mrs Kwofie said that MTN Ghana was committed to building a sustainable business and providing value to its shareholders and stakeholders.

She said that MTN Ghana had declared a final dividend of 12.4 pesewas per share for 2022, bringing the total dividend for that year to 16.4 pesewas per share. She added that the company had also paid an interim dividend of 5 pesewas per share for 2023.

She said that MTN Ghana had given its shareholders an option to receive their dividend in cash or in shares, as part of its efforts to localize more of its ownership. She said that some individual investors had opted for the scrip dividend, thereby increasing their stake in the business.

She said that MTN Ghana would continue to grow its revenue and protect its margins, while maintaining its dividend payout ratio above 60 per cent. She also said that MTN Ghana would enhance its investor communication and transparency to the market.

Dr Ofori-Tenkorang commended MTN Ghana for its performance and dividend payment, saying that it was one of the key sources of income for SSNIT. He said that SSNIT’s mandate was to collect contributions from workers and pay out benefits to its customers through prudent and sustainable investments.

He said that SSNIT was proud to be associated with MTN Ghana, which he described as a “trailblazer” in the telecommunications industry. He said that SSNIT looked forward to a long-term and mutually beneficial relationship with MTN Ghana.

He also urged other companies to register their employees with SSNIT and pay their contributions regularly, as it would help them secure their future and boost the economy.

Source: Ghana News Agency

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