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MTN to cut dividend amid Nigerian market uncertainty
2016-03-03 10:05:00| Telecompaper Headlines
(Telecompaper) MTN Group has reported a 0.1 percent increase in revenue to ZAR 147.1 billion in 2015 from ZAR 146.9 billion in 2014. Revenue remained flat largely because of a decline in voice revenue in Nigeria and a reduction in handset revenue in South Africa after industrial action there. This was largely offset by an increase in data revenue across the business, though. MTN's basic headline earnings per share declined by 51.4 percent to ZAR 7.46, largely due the Nigerian regulatory fine provision (ZAR 9.29 billion). While MTN increased its annual dividend 5.2 percent to ZAR 13.10 per share, it forecast a sharp fall to ZAR 7 in 2016, due to the uncertainty in the Nigerian market.
Tags: market
cut
uncertainty
dividend
Category:Telecommunications