Airtel Africa, a leading provider of telecommunications and mobile money services, has announced new interim dividend currency exchange rates for its shareholders. The firm also confirmed the default currency and options on currency election for the interim dividend
According to a statement signed by the Group Company Secretary for Airtel Africa, Simon O’Hara, and filed with the Nigerian Exchange Limited (NGX), the new interim dividend currency exchange rates are put at 1 US dollar= N414.55 and 1 US dollar=£0.7373.
The telecommunications giant also revealed that shareholders that hold their shares on the London Stock Exchange may elect to receive their entire dividend payment in GB Pounds of US dollars.
In addition, the teleco giant added that: ‘’ Holders electing to receive a dividend should specify a choice of currency by completing the Currency Election Form and returning this to Computershare Investor Services plc.
‘’Shareholders holding their shares on the LSE who do not indicate their currency of choice before 26 November 2021 will receive their dividends in U.S. dollars.
‘’The closing date for the dividend currency election to the Company’s Registrars Computershare Investor Services plc in the UK is 26 November 2021.’’
In addition, Airtel Africa revealed that shareholders that hold their shares on the Nigerian Exchange Limited (NGX), may either elect to receive their entire dividend payment in Nigerian naira or U.S. dollars. It warned that partial elections are not permissible.
Commenting further on Nigerian shareholders, the firm stated that: ‘’Holders electing to receive a dividend in U.S. dollars should complete the Currency Election Form and return this to Coronation Registrars Limited or email to firstname.lastname@example.org
Shareholders holding their shares on NGX who do not indicate their currency of choice before 26 November 2021 will receive their dividends in Nigerian naira.
The closing date for currency election as regards shareholders who hold their shares via the NGX is 26th of November, 2021.
Recall that Airtel Africa recently posted a 131% increase in its bottom line for the half year period ended 30th of September, 2021 to stand at $335 million. The top line figure of the firm also surged by 25% to close at $2.27 billion.
Based on this, the Board recommended an interim dividend of 2 cents per ordinary share payable on 10th of December 2021 to shareholders on the register as at close of business on 12th of November, 2021.