By Kweku Zurek
April 2, 2025 | 10:19 AM | Business News
MTN Ghana, operating as Scancom PLC on the Ghana Stock Exchange, has announced an impressive dividend for the 2024 financial year, ensuring substantial earnings for its shareholders.
The telecom giant’s board recently declared, and shareholders approved, a dividend of GHS 0.305 per share, reflecting a 35.6% increase from the previous year. This significant rise highlights the company’s strong financial performance and commitment to rewarding its investors.
However, shareholders will receive net earnings after an 8% withholding tax on dividends, as per Ghana’s tax regulations.
Major Beneficiaries of MTN Ghana’s Dividend Payout
According to an analysis by GraphicOnline, some of the biggest beneficiaries include:
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The Social Security and National Insurance Trust (SSNIT) – the third-largest shareholder in MTN Ghana.
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Ishmael Yamson – Board Chairman of Scancom PLC.
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Ebenezer Asante – A former CEO of MTN Ghana and current Vice President for West and Central Africa (WECA) at MTN Group.
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Investcom Consortium Holdings S.A. – The majority shareholder in MTN Ghana.
Each of these shareholders is set to receive significant financial rewards following the company’s record-breaking profit and dividend declaration.
SSNIT’s Earnings from MTN Ghana
As a major institutional investor, SSNIT owns 203,825,694 shares in MTN Ghana. With this stake, SSNIT will receive:
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Interim dividend: GHS 13,248,670.11
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Final dividend: GHS 48,918,166.56
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Total dividend payout: GHS 62,166,836.67
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Withholding tax (8%): GHS 4,973,346.93
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Net earnings: GHS 57,193,489.74
This payout represents a significant boost for SSNIT, reinforcing its investment strategy and commitment to pension funds.
Board Chairman Ishmael Yamson’s Dividend Payout
As Board Chairman of Scancom PLC, Ishmael Yamson holds 834,344 shares in the company. His earnings from the declared dividend are as follows:
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Interim dividend: GHS 54,232.36
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Final dividend: GHS 200,242.56
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Total dividend payout: GHS 254,474.92
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Withholding tax (8%): GHS 20,357.99
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Net earnings: GHS 234,116.93
Yamson’s payout, although smaller compared to institutional investors, still underscores the lucrative nature of MTN Ghana’s dividend policy.
Ebenezer Asante’s Dividend Earnings
Ebenezer Asante, a key figure in MTN’s leadership and the first Ghanaian to head MTN Ghana, holds 8,000,100 shares. His dividends for 2024 are as follows:
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Interim dividend: GHS 520,006.50
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Final dividend: GHS 1,920,024.00
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Total dividend payout: GHS 2,440,030.50
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Withholding tax (8%): GHS 195,202.44
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Net earnings: GHS 2,244,828.06
Asante’s dividend payout further highlights MTN’s strong commitment to rewarding stakeholders who have played key roles in its growth.
Investcom Consortium Holdings S.A.: The Biggest Winner
The majority shareholder in MTN Ghana, Investcom Consortium Holdings S.A., owns 9,535,213,597 shares, positioning it as the primary beneficiary of this dividend declaration. Its earnings include:
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Interim dividend: GHS 619,788,883.80
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Final dividend: GHS 2,288,451,263.28
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Total dividend payout: GHS 2,908,240,147.08
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Withholding tax (8%): GHS 232,659,211.77
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Net earnings: GHS 2,675,580,935.31
This massive payout further cements Investcom Consortium’s dominant role in MTN Ghana’s financial structure, despite recent reductions in its stake.
MTN Ghana’s Strong Financial Performance in 2024
MTN Ghana’s remarkable dividend growth is fueled by its record revenue of GHS 17.9 billion in 2024. The company allocated 80.26% of its profit after tax towards dividend payments, emphasizing its focus on shareholder returns.
While Investcom Consortium Holdings S.A. remains the largest shareholder, SSNIT has slightly increased its stake, reflecting growing local investor confidence in the telecom leader.
Final Dividend Payment and Shareholder Approval
At its Annual General Meeting (AGM), MTN Ghana proposed a final dividend of 24 pesewas per share, pending shareholder approval. If approved, payments will be disbursed on April 16, 2025.
The total dividend for 2024 stands at 30.5 pesewas per share, amounting to GHS 4.0 billion. This figure represents 80% of the company’s GHS 5.0 billion profit after tax, marking a 35.6% increase from the previous year.
MTN Ghana’s Influence in the Stock Market
MTN Ghana continues to be a dominant force in Ghana’s stock market, offering high returns to both institutional and individual investors. Its steady growth, increasing dividends, and strong financials make it a top choice for long-term investment.
As the company moves forward, it remains committed to expanding its market presence, strengthening shareholder confidence, and driving digital innovation in Ghana’s telecommunications sector.
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