MTN Ghana suspends dividend payment, postpones Annual General Meeting

The mobile telecom giant in Ghana also announced that it has suspended the payment of dividends scheduled for May 25, 2020, until further notice.

The AGM brings shareholders of the company together to make critical decisions. MTN Ghana after a successful Initial Public Offer in 2018, has thousands of shareholders.

A statement from MTN said it has become necessary to postpone the AGM due to the COVID-19 pandemic, and the ensuing directives imposing restrictions on public gatherings, to curb the spread of the virus.

On March 15, 2020, President Nana Akuffo-Addo banned public gatherings as part of measures to curb the spread of the virus.

Also, a circular from the Ghana Stock Exchange dated March 16, 2020, reinforced the restrictions on public gatherings as stated by the president on March 15, 2020.

“Consequently, payment of the Final Dividend for 2019, and the payment date of May 25, 2020, as published in the Scancom Plc. (MTN Ghana) Annual Results for the year ended 31 December 2019 (the “Annual Results”) are hereby also postponed until further notice”, the statement said.

“Kindly note that the Ex-dividend date of April 28, 2020, and the Qualifying date of April 30, 2020, published in the Annual Results remain unchanged,” the statement added.

However, the Board of Directors of Scancom Plc. has assured shareholders that they will continue to monitor the situation and inform them of a new date or an alternative in due time.