MTN Nigeria Holds AGM This Friday

MTN Nigeria AGM

Leading telecommunications company in the country, MTN Nigeria Communications Plc, will hold its Annual General Meeting (AGM) this week.

The firm will organise the shareholders’ gathering precisely on Friday, May 15, 2020, at the Rooftop Event Hall of MTN Plaza at Falomo, Ikoyi, Lagos by 11am.

However, as a result of the present global health situation, which prohibits gatherings of over 20 persons at a time, the AGM will take place via proxy.

The meeting, it was gathered, will give investors the opportunity to approve the financial statements of the firm for the year ended December 31, 2019.

In addition, they will, through proxies, approve other reports of the company as well as the N4.97 final dividend proposed by the board for the fiscal year under review.

If approved, the registrar will credit the bank accounts of shareholders on Tuesday, May 19.

Recall that the qualification date for the cash reward was Friday, April 17, 2020, while the closure of register was from Monday, April 20, 2020.

Business Post reports that the AGM was earlier scheduled to take place on Friday, May 8, 2020 at the Eko Hotel and Suites, Victoria Island, Lagos by 11am.

However, the coronavirus pandemic, which forced a lockdown in Lagos, Ogun and Abuja, caused a change of programme.

In the 2019 financial year, MTN Nigeria grew its earnings per share by 38.8 percent to N9.90, while the pre-tax profit rose by 31.1 percent to N290.1 billion, with revenue jumping by 12.6 percent to N1.2 trillion.

Its mobile subscribers increased by 6.1million to 64.3 million, while its active data users grew by 6.5 million to 25.2 million

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