Airtel Africa has selected N1485.99\/$ as the exchange rate for its 2023 final dividend.<\/p>\n
Earlier in the year, the group announced a final dividend of 3.57 US Cents per share for FY 2023\/2024.\u00a0\u00a0<\/span><\/p>\n At this exchange rate, Airtel\u2019s final dividend in Naira is about N53.05 per share, representing a dividend yield of 2%.\u00a0<\/span><\/p>\n According to a\u00a0corporate notice\u00a0by the group, Airtel Africa will pay its dividend on July 26, 2024, to shareholders whose names appear on the register at the close of business on June 21, 2024.<\/p>\n Despite posting a net loss of $89 million for the fiscal year ending March 31, 2024, Airtel Africa will pay a total dividend of N276 billion ($224 million).<\/p>\n The group had earlier paid an interim dividend of 2.38 US Cents per share at an exchange rate of N858.24\/$ in December 2023. Airtel\u2019s interim dividend payment amounted to N76.8 billion.<\/p>\n The group\u2019s final dividend payment of 3.57 US Cents per share at an exchange rate of N1485.99\/$ will amount to N199.4 billion, thus resulting in a total dividends payment of N276 billion.<\/p>\n Airtel\u2019s total dividend of 5.95 US Cents per share marks a 9% increase from the 5.45 US Cents per share total dividend distributed in the previous fiscal terms. In Naira terms, 2023\/2024\u2019s total dividend distribution marks a 130% increase from the N120.1 billion distributed for FY 2022\/2023.\u00a0\u00a0<\/span><\/p>\n Recall that Airtel Africa paid an interim dividend of 2.18 US Cents per share, at an exchange rate of N446.1\/$ in November 2022. The group then paid a final dividend of 3.27 US Cents per share at an exchange rate of N680.2\/$ in May 2023.\u00a0\u00a0<\/span><\/p>\n Airtel\u2019s dividends payment is coming irrespective of an $89 million net loss incurred during the fiscal year.<\/span><\/p>\n Even the group is currently in the first phase of a $100 million share buyback programme, that is due to end in August 2024.\u00a0<\/span><\/p>\n The group has bought back about \u00a317.83 million worth of shares, representing about 17,086,055 million shares. The first phase of the buyback is currently being conducted on the London Stock Exchange, with Citigroup Global Markets serving as the agent.\u00a0<\/span><\/p>\n It is yet unknown if the group will carry out the second phase of the buyback on the NGX.\u00a0\u00a0<\/span><\/p>\n The fiscal year ending March 31, 2024, was impressive for Airtel Africa in operating margins. Despite a slight 6.7% decline in its operating profit to $1.64 billion from $1.76 billion as of the previous fiscal year, the group\u2019s operating margin was kept at 32.9%, a marginal decline from 33.4% in the previous year.\u00a0<\/span><\/p>\n The group incurred a capital expenditure of $737 million during the fiscal year, a 1.4% decline from $748 million in the previous fiscal year.<\/span><\/p>\n The capital expenditure was largely driven by a $152 million expenditure on license renewal and spectrum acquisitions.\u00a0<\/span><\/p>\n Airtel recently\u00a0announced the repayment of a $550 million<\/span>\u00a0bond by one of its subsidiaries. Coupled with its ongoing share buyback programme, as well as a dividend payment of $224 million, Airtel will spend quite a significant amount of capital in the current fiscal year.\u00a0\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" Airtel Africa has selected N1485.99\/$ as the exchange rate for its 2023 final dividend. Earlier in the year, the group announced a final dividend of 3.57 US Cents per share for FY 2023\/2024.\u00a0\u00a0 At this exchange rate, Airtel\u2019s final dividend in Naira is about N53.05 per share, representing a dividend yield of 2%.\u00a0 According to […]<\/p>\n","protected":false},"author":27,"featured_media":33980,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173,249],"tags":[],"class_list":["post-33978","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-world-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/33978","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=33978"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/33978\/revisions"}],"predecessor-version":[{"id":33985,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/33978\/revisions\/33985"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/33980"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=33978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=33978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=33978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}