MTN Rwanda’s Board of Directors has approved a recommendation for a dividend payout of Rwf 10.2 billion to shareholders. This is subject to approval by shareholders at the next Annual General Meeting slated for June 30 this year.

The payout will be approximately Rwf7.5 per share.

MTN Rwanda registered an after-tax profit of Rwf20.2 billion in 2020 compared to Rwf6.81 billion in 2019, a growth of close to 200 per cent.

At the AGM, shareholders are also expected to vote for the appointment of TradeMark East Africa Rwanda Country Director Patience Mutesi and popular City lawyer Julien Kavaruganda to join MTN Rwanda’s Board of Directors.

A total of 1,350,886,600 ordinary shares were registered with the RSE in May at an initial listing price of Rwf269 per ordinary share.