MTN to Pay UGX 123B to Registered Share Holders as NSSF Earns Record UGX 31 Billion 

Patrick Ayota from NSSF receiving a cheque from Sylvia Mulinge from MTN for the dividends earned

MTN Uganda has announced that it going to pay dividends worth 123.1 billion shillings to all their registered shareholders for the year 2022. The telecom company said the dividends will be paid at a rate of 5.5 shillings per share by end of June 22 through shareholders’ bank accounts and mobile money.

This comes after the National Social Security Fund (NSSF) earned a record 31.5 billion shillings as dividends from MTN Uganda for the 360 billion shillings invested in December 2021 which accumulated to 1.98 billion shares during its initial Public offer.

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Patrick Ayota, NSSF’s acting managing director said that the payment is currently the largest dividend ever earned by the fund in addition to the 9.32 billion earned last year still from MTN Uganda. Ayota adds that this investment was within the fund’s plan to deploy capital in areas that are important to the economy such as real estate, tell communication sectors, and the developing sectors such as Fintech. 

Ayota assured the savers that they are committed to preserving the value of their savings each year by making sure that they get a return that is at least 200 basis points above inflation.

Sylvia Mulinge the MTN chief executive officer,  every Ugandan who has a stake in NSSF is represented here and the return is in line with the company’s determination of creating shared value for all stakeholders. 

Currently, MTN has 20,870 shareholders with over 200 smaller pension funds and SACCOs representing millions of Ugandans. More than 75 percent of NSSF’s 17 Trillion shillings investment is in equities which include MTN Uganda and 7.5 percent is what is invested in real estate. By F M Kayongo

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