The board of SA's second mobile operator, MTN, has approved an increase in its shareholder payout ratio to 55%, bringing the final cash dividend of 349c per share in respect of the period to 31 December 2010.
This will bring the total dividend for the year to 500c. The dividend is calculated based on a full-year adjusted HEPS of 909.1c, after a once-off adjustment for the impact of MTN Zakhele.
As 151c was paid at the interim period, a final dividend of 349c is payable to shareholders recorded in the register of the MTN Group at the close of business on 1 April 2011.
In compliance with the requirements of Strate, the electronic settlement and custody system used by the JSE, the MTN Group has determined the following salient dates for the payment of the dividend:
Last day to trade cum dividend: Friday, 25 March 2011
Shares commence trading ex-dividend: Monday, 28 March 2011
Record date: Friday, 1 April 2011
Payment of dividend: Monday, 4 April 2011
On 4 April, the dividend will be transferred electronically to the bank accounts of certificated shareholders who make use of this facility.
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