{"id":21338,"date":"2022-06-04T16:23:41","date_gmt":"2022-06-04T16:23:41","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/mtc-declares-37-cents-per-share-interim-dividend"},"modified":"2022-06-04T16:30:59","modified_gmt":"2022-06-04T16:30:59","slug":"mtc-declares-37-cents-per-share-interim-dividend","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/mtc-declares-37-cents-per-share-interim-dividend","title":{"rendered":"MTC declares 37 cents per share interim dividend"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>SHAREHOLDERS of recently listed Mobile Telecommunications Limited (MTC) will receive a 37 cents-per-share dividend in early July, the company announced this week.<\/b><\/p>\n

This interim dividend would be paid for the financial half-year ending on 31 March \u2013 for which financial statements show a growing company revenue, but a fall in profit over the term.<\/p>\n

Revenue was recorded to have skipped to N$1,4 billion from N$1,3 billion in 2021, with profit slumping from N$397 million to N$395 million.<\/p>\n

Operations in general have weakened in terms of profitability, within the six months when compared to 2021, wiping out at least N$62 million in operating profit.<\/p>\n

At the end of March 2021, operating profit was at N$563 million, but over the same period in 2022, operating profit slumped to N$501 million.<\/p>\n

Rescuing operations from a deep decline was investment income, which skipped up almost N$40 million.<\/p>\n

The company’s balance sheet remained strong, edging up to N$3,5 billion, although liabilities soared slightly by some N$79 million.<\/p>\n

Most of the company’s revenue continues to come from the prepaid segment, which grew to N$910 million.<\/p>\n

In March last year, prepaid revenue was at N$852 million.<\/p>\n

Revenue from the contract segment, however, declined to N$368 million from N$391 million in March last year, while roaming income grew to reach N$31 million.<\/p>\n

The company had a healthy cash flow at N$783 million which will be dropped to N$277 million dividend.<\/p>\n

Despite the high revenue when compared to 2021, the company had many cash payments to make which saw cash from operations slumping from N$627 million to N$575 million \u2013 but when compared to year end balances, a positive cash flow movement was recorded at N$81 million.<\/p>\n

MTC has 2,3 million prepaid subscribers and 159 345 contract subscribers \u2013 reaching 2,5 million active subscribers at the end of the six months.<\/p>\n

Commenting on the financial statements, MTC’s directors said although the economy remained under pressure subsequent to Covid-19, MTC has generated higher revenues by responding to customer needs for faster, simpler, more convenient and more cost-effective telecommunication.<\/p>\n

The company said it will continue to implement its customer-centric digital transformation strategy with the objectives of keeping its customers connected, maintaining financial performance and maximising the value of its shares,while continuing to generate proceeds for Namibia’s national fiscus.<\/p>\n

Despite this confidence call, the share price at the end March this year were trading at N$8, lower than the initial public offer (IPO) price of N$8,50.<\/p>\n

On Wednesday, shares were trading at N$7,51 per share further down their IPO price.<\/p>\n

The company has also raised a N$70 million contingent liability in relation to a High Court ruling on the licence regime in which the company was tussling with its regulator, the Communications Regulatory Authority of Namibia.<\/p>\n

The Bank of Namibia has estimated that the telecommunications sector this year will contract by 2% to N$2,6 billion, and MTC might feel the pinch from reduced consumer spending.<\/p>\n

The last day to trade to receive the dividend is 17 June, and the payment date is set for 8 July.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. SHAREHOLDERS of recently listed Mobile Telecommunications Limited (MTC) will receive a 37 cents-per-share dividend in early July, the company announced this week. This interim dividend would be paid for the financial half-year ending on 31 March \u2013 for which financial statements show a growing company revenue, but a fall in profit over […]<\/p>\n","protected":false},"author":84,"featured_media":21337,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[234,236,233],"class_list":["post-21338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nMTC declares 37 cents per share interim dividend - Namibia<\/title>\n<meta name=\"description\" content=\"SHAREHOLDERS of recently listed Mobile Telecommunications Limited (MTC) will receive a 37 cents-per-share dividend in ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/mtc-declares-37-cents-per-share-interim-dividend\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MTC declares 37 cents per share interim dividend\" \/>\n<meta property=\"og:description\" content=\"SHAREHOLDERS of recently listed Mobile Telecommunications Limited (MTC) will receive a 37 cents-per-share dividend in ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/mtc-declares-37-cents-per-share-interim-dividend\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-04T16:23:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-04T16:30:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/06\/postQueueImg_18-629b88b2e9be2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"336\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/mtc-declares-37-cents-per-share-interim-dividend#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/mtc-declares-37-cents-per-share-interim-dividend\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"MTC declares 37 cents per share interim dividend\",\"datePublished\":\"2022-06-04T16:23:41+00:00\",\"dateModified\":\"2022-06-04T16:30:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/mtc-declares-37-cents-per-share-interim-dividend\"},\"wordCount\":511,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/mtc-declares-37-cents-per-share-interim-dividend#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/06\/postQueueImg_18-629b88b2e9be2.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/mtc-declares-37-cents-per-share-interim-dividend#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/mtc-declares-37-cents-per-share-interim-dividend\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/mtc-declares-37-cents-per-share-interim-dividend\",\"name\":\"MTC declares 37 cents per share interim dividend - 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