AIRTEL MALAWI PLC APPROVES MK23.1BILLION DIVIDEND Featured

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At its 22nd Annual general meeting on Thursday, the board of Airtel Malawi Plc approved MK23.1billion dividend.

16
July

According to Airtel Malawi Company Secretary Hlupekire Chalamba, the MK23.1billion represents MK2.10 per share in respect of the financial year ending December 31 2020.

“The dividend will be payable on 31st August, 2021 to those registered in the books of the company at the close of business on the 30th day of July 2021” said Chalamba in a statement.

Last year, the Company approved a dividend of MWK13,750,000,000 representing MWK1.25 per share.

Airtel Malawi officially listed on Malawi Stock Exchange (MSE) on February 24 2020, with an initial offer of MK2.2billion shares at MK17.69 per share, allowing the public for the first time to own part of the telecommunications giant.

The offer was Malawi’s largest Initial Public Offer (IPO) in the history of MSE listing, which represented 20 percent stake in the business.

The listing was in compliance with Section 35 of the Communication Act of 2016 (Telecommunication and Broadcasting Licensing), which requires the company to have 20 percent local Malawian shareholding.

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