MTN Uganda, a South African telecommunications conglomerate, has announced a record payment of UGX 839 billion as its yearly contribution to the government of Uganda’s national fiscal and economic development goals through taxes in 2021.(MTN Uganda breaks the UGX 800Billion tax payment record in 2021)
This announcement was made by MTN Uganda Chairman Charles Mbire on May 27, at the company’s first general meeting after its listing on the Uganda Securities Exchange on December 6, 2021.
Mbire stated that UGX 839 billion in tax money was paid to the Uganda Revenue Authority over the year, confirming MTN’s position as the country’s top tax payer.
Environmental, social, and governance ideals remain at the heart of what we do, aligned with corporate interests.
Concerning the IPO’s performance, Mbire stated that a total of UGX 335.6 billion will be handed out as dividends to shareholders this year.
“In light of the Company’s strong performance and in accordance with the Company’s dividend policy, the Board has proposed a final dividend per share for the fiscal year of UGX 4.706 (UGX 105.4 billion), with the total dividend per share for 2021 being UGX 14.99 (UGX 335.6 billion),” Mbire said, to applause from board members.
According to Mbire, an interim dividend of UGX 230 billion has already been handed out.
MTN Uganda offered 20% of its shares to the public in 2021, becoming the largest IPO in Uganda’s history and a significant milestone in the Company’s development.
The economic impact of the COVID-19 pandemic made 2021 a difficult operational year for the Company. Despite these obstacles, the company displayed impressive endurance and produced positive results. “I would want to convey my heartfelt appreciation to the Board, the senior management team, and the staff for their efforts over the last year,” Mbire added.
Mbire highlighted the effective separation of the MTN Mobile Money and financial technology business from the core telecommunications business as another achievement for the 2021 fiscal year, adding that Ambition 2025 projects are presently being investigated.
“We are pleased about MTN Uganda’s prospects and growth potential, as well as the ability to contribute even more to the country’s transformation by expanding digital and financial inclusion to all areas and supporting broad community development,” he said.
Mbire stated that MTN Uganda was at the vanguard of a response to the COVID-19 epidemic, with help provided at the national and community levels through engagement with the Government of Uganda to provide COVID-19 relief.
“We are and will continue to be focused on the well-being of our people and the Ugandan community since this is at the heart of everything we do,” he added.
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