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MTN Nigeria Communications Plc, has announced the payment of N9.40 final dividend per share to shareholders for the year ended December 31, 2020. The dividend represents 18.7 per cent increase from 2019. MTN Nigeria’s Chairman, Ernest Ndukwe said “Despite the challenging operating conditions during the year, I am
Dike Onwuamaeze The Central Bank of Nigeria’s (CBN) restrictive monetary policy enabled corporate organisations to raise N1.02 trillion from the local currency debt market in 2020. The figure borrowed in 2020 represented 52.4 per cent increase when compared to 2019 level of N669 billion. The GCR Ratings Research latest report on Nigeria’s capital markets stated that issuance of corporate debt spiked as firms took advantage of the lowered monetary rates to either refinance expensive bilateral loans with banks or raise additional debts. The report projected that the trend would continue in ...
Goddy Egene writes that as inflation rate remains above 18 per cent, the stock market still provides investors opportunity to earn positive returns on their investments When investors stake their funds, their expectation is to reap positive returns on investments. That means a return that is above inflation rate. And considering the fact that inflation rate stood at 18.12 per cent as at the end of April 2021, investors must invest in securities that would produce a return of above 18.12 per cent. Although it is difficult to come across investment that can give yields above inflation rate, the...
MTN Nigeria issues N110 billion bond The debt has a coupon of 13 per cent and has been oversubscribed by 32 per cent. ADVERTISEMENT Telco giant MTN Nigeria (MTNN) Communications Plc says it has completed the issuance of a N110 billion fixed rate bond due in 2028 under a N200 billion bond programme. It will help refinance existing debt as well as back the deployment of critical network infrastructure, and has a coupon of 13 per cent. “The total value of orders received during the book build was N135,151,000,000, representing a 1.32 times oversubscription of the intended N100,000,000,000 issu...