AIRTEL AFRICA TO PAY N276 BILLION TOTAL DIVIDEND FOR 2023, CHOOSES N1,485.99 AS EXCHANGE RATE FOR FINAL DIVIDEND
Airtel Africa has set an exchange rate of N1,485.99/$ for its 2023 final dividend, which translates to approximately N53.05 per share and a 2% dividend yield. Despite a net loss of $89 million for the fiscal year ending March 31, 2024, Airtel Africa will distribute a total dividend of N276 billion ($224 million). This includes an earlier interim dividend of N76.8 billion and a final dividend of N199.4 billion.
Key details include:
- Final Dividend: 3.57 US Cents per share, payable on July 26, 2024.
- Total Dividend: 5.95 US Cents per share, marking a 9% increase from the previous fiscal year.
- Capital Allocation: The group is engaged in a $100 million share buyback program and has recently repaid a $550 million bond.
- Operating Margins: Despite a 6.7% decline in operating profit to $1.64 billion, the operating margin remained relatively stable at 32.9%.
Airtel Africa's strategy includes reducing foreign currency debt obligations and managing capital expenditure, which totaled $737 million for the fiscal year.
Airtel Africa has set an exchange rate of N1,485.99/$ for its 2023 final dividend, which translates to approximately N53.05 per share and a 2% dividend yield. Despite a net loss of $89 million for the fiscal year ending March 31, 2024, Airtel Africa will distribute a total dividend of N276 billion ($224 million). This includes an earlier interim dividend of N76.8 billion and a final dividend of N199.4 billion.
Key details include:
- Final Dividend: 3.57 US Cents per share, payable on July 26, 2024.
- Total Dividend: 5.95 US Cents per share, marking a 9% increase from the previous fiscal year.
- Capital Allocation: The group is engaged in a $100 million share buyback program and has recently repaid a $550 million bond.
- Operating Margins: Despite a 6.7% decline in operating profit to $1.64 billion, the operating margin remained relatively stable at 32.9%.
Airtel Africa's strategy includes reducing foreign currency debt obligations and managing capital expenditure, which totaled $737 million for the fiscal year.