Shareholders of MTN Ghana could soon begin receiving dividend payments every quarter, following a new proposal by the company’s board aimed at increasing shareholder returns and strengthening investor confidence.

According to the company’s 2025 financial statements, the proposed move forms part of the board’s commitment to delivering value to shareholders where possible. If approved by regulators and shareholders, the revised dividend policy will allow interim dividends to be declared after every quarterly financial result.

Under the first-quarter proposal, shareholders are expected to receive a combined interim dividend of GHS0.06 per share. This includes GHS0.03 per share from Scancom PLC and another GHS0.03 per share from Mobile Money Fintech Limited, both subject to shareholder approval.

The proposed dividend payments are scheduled for June 18, 2026.

MTN explained that the revised policy is designed to provide more consistent returns to investors while maintaining financial discipline. The company noted that future dividend payments would depend on factors such as cash availability, retained earnings and compliance with debt obligations.

The telecom giant also stated that its dividend payout ratio will range between 60% and 80% of annual profits. In addition to quarterly dividends, shareholders may still approve a final dividend at the company’s Annual General Meeting upon recommendation by the board.

Strong first-quarter earnings

The proposed dividend announcement comes on the back of a strong financial performance in the first quarter of 2026.

MTN Ghana recorded a profit before tax of GHS3.5 billion between January and March 2026, representing a rise of more than 48% compared to the same period last year.

Total revenue for the quarter climbed to GHS7.2 billion, while taxes paid to the state increased by more than 50% to GHS1 billion.

Data services remained the company’s biggest growth driver, generating GHS4.2 billion in revenue during the period. MTN attributed the strong performance to rising internet usage, increased demand for video streaming, social media activity and the growing use of digital applications.

The company said active data subscribers increased by 16% year-on-year to 20.6 million users, while average data consumption per customer rose by 40.9% to 18.8 gigabytes per month.

“As a result, data traffic increased by 63.4% year-on-year,” the company stated.

Data revenue now contributes 59% of MTN Ghana’s total service revenue, up from 52.6% in the first quarter of 2025.

Mobile Money maintains growth

MTN Ghana’s Mobile Money business also posted strong results during the quarter, generating GHS1.7 billion in revenue.

The growth was supported by increased use of both basic and advanced financial services, as active Mobile Money users rose by 4% year-on-year to 18 million customers.

Revenue from basic Mobile Money services grew by 21.9% to GHS1.1 billion. Withdrawal revenue increased by 6.4% to GHS711 million, while transfer service revenue surged by 65.2% to GHS397.4 million.

Despite the strong performance, Mobile Money’s contribution to overall service revenue declined slightly from 24.9% in the first quarter of 2025 to 23.6%, largely due to the faster growth recorded in data services.

CEO expresses confidence

Chief Executive Officer of MTN Ghana, Stephen Blewett, described the company’s first-quarter performance as a reflection of disciplined execution and strategic investment.

According to him, the company’s growth was driven by continued momentum across data, Mobile Money, voice and digital services, supported by investments in network expansion, platform innovation and stronger ecosystem partnerships.

“These efforts enabled us to sustain a strong commercial trajectory while reinforcing MTN Ghana’s role as a critical enabler of digital and financial inclusion,” he said.

Mr Blewett added that service revenue grew by 35.7% year-on-year, while strong revenue growth, disciplined cost management and a favourable operating environment helped drive a 42.9% increase in EBITDA.

The company’s EBITDA margin improved by 3.1 percentage points to 61.2%.

He expressed confidence in MTN Ghana’s long-term outlook, saying the company remains focused on sustainable growth and continued value creation for shareholders and customers alike.