MTN Nigeria Communications Plc has rekindled investor confidence with the announcement of a N5 interim dividend payout, marking a major comeback after a challenging financial period that saw the telecom giant suspend dividends in 2022.
The company’s latest nine-month financial results show a positive liquidity position of N93 billion, driven by a turnaround in the company’s retained earnings to N142 billion compared to the N723 billion accumulated loss reported in the nine months of last year.
Karl Toriola, the company’s CEO, in its earnings statement, said, “We are pleased to report that MTN Nigeria has restored its positive retained earnings and shareholders’ equity positions. This is a significant milestone that demonstrates strong operational momentum and disciplined execution.”
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“Supported by a more favourable macroeconomic environment and price adjustments, the outcome was driven by the delivery of our strategic and commercial initiatives, commitment to efficiency, and prudent financial management,” he added.
MTN declared an interim dividend of N5 per 2 kobo ordinary share has been approved by the Board of Directors to be paid to shareholders whose names appear in the Register of Members as at the close of business on 20 November 2025.
BusinessDay has earlier reported that MTN Nigeria’s share price crossed the N500 mark, first time in history on October 22, 2025. Two days later, it climbed even higher to N515, reaching a new all-time high on the Nigerian Exchange (NGX).
As of October 31st, a few hours after the company released its nine-month financial results, its share price currently stands at N520.10.
Strong financial turnaround drives dividend recovery
The dividend declaration comes on the back of a gradual recovery in revenue and operational efficiency.
MTN Nigeria has reported an after-tax profit of N750.2 billion for the nine months ended September 30, 2025, marking one of the strongest corporate turnarounds in the Nigerian telecom industry’s history.
The result represents a 245.7 percent rebound from a N514.9 billion loss recorded in the same period last year, driven by robust data growth, fintech expansion, and improved macroeconomic stability.
The company’s performance was buoyed by a strengthened naira, easing inflation, and disciplined cost management that doubled operating margins.
Total service revenue surged 57.5 percent year-on-year to N3.7 trillion, while EBITDA more than doubled to N1.9 trillion, with margins expanding by 15.1 percentage points to 51.4 percent.
Data and fintech fuel growth
MTN’s data and fintech businesses have been key growth drivers, helping offset weaker voice revenue and higher network costs. Data revenue soared 73.2 percent year-on-year to N1.98 trillion, supported by rising smartphone penetration (now at 65.1 percent), expanded 4G capacity, and a 36.3 percent surge in data traffic. Average data usage per subscriber climbed to 13.2GB per month, while the company’s home broadband user base grew to 4 million, up 281,000 in Q3 alone.
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Voice revenue also rose by 41.9 percent to N1.35 trillion, reflecting both subscriber growth and new pricing strategies.
On the digital and fintech front, fintech revenue jumped 72.5 percent to N131.6 billion, with active MoMo wallets expanding to 2.9 million. MTN said customer deposits grew by 80.5 percent compared to December 2024, while its agent and merchant networks expanded by 73.6 percent and 42.6 percent, respectively, underscoring its drive to deepen financial inclusion.
“Fintech remains a critical growth area that drives inclusion and long-term value,” Toriola said, noting that recent initiatives have begun to rebuild momentum across MTN’s mobile money ecosystem.