Airtel Africa, a Pan-African provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, is set to pay dividends to shareholders who elect to receive in Naira at an exchange rate of $1 to N386.
Airtel confirmed in a note to the Nigerian Stock Exchange (NSE) that the default currency and options on currency election for the interim dividend, and the currency exchange rates that will be applicable in determination of the interim dividend payment to any shareholders that qualify for and have elected to receive the interim dividend payment in Great British Pound (GBP) or Naira will be as follows:
Arrangements for Shareholders that hold their shares on the Nigerian Stock Exchange (NSE):
- Shareholders that hold their shares on the Nigerian Stock Exchange may elect to receive their entire dividend payment in Dollars.
- Partial elections are not permissible.
- Holders electing to receive a dividend in Dollars should complete the Currency Election Form and return to United Securities Limited or email to eforms@unitedsecuritieslimited.com
- Shareholders holding their shares on the NSE who do not indicate their currency of choice before 27 November 2020 will receive their dividends in Naira.
The closing date for the Airtel Africa dividend currency election to the Company’s Registrars United Securities Limited in Nigeria is 27 November 2020.
- Currency election forms can found on the website of the Company’s Registrar’s at www.unitedsecuritieslimited.com or this direct link: https://bit.ly/2IhpY2o
The following currency exchange rate will be applicable in the determination of the interim dividend payment to any shareholders that qualify for and have elected to receive the interim dividend payment:
Exchange Rate
1 USD = 386 Naira
1 USD = 0.7534 GBP
The exchange rate for the Naira amounts payable was determined by reference to the exchange rates applicable to the US Dollar available on 10 November 2020.
Arrangements for Shareholders that hold their shares on the London Stock Exchange (LSE):
- Shareholders that hold their shares on the London Stock Exchange may elect to receive their entire dividend payment in GBP or USD Dollar.
- Partial elections are not permissible.
- Holders electing to receive a dividend should specify a choice of currency by completing the Currency Election Form and return to Computershare Investor Services plc.
- Shareholders holding their shares on the LSE who do not indicate their currency of choice before 27 November 2020 will receive their dividends in USD.
- The closing date for the dividend currency election to the Company’s Registrars Computershare Investor Services plc in the UK is 27 November 2020.
- Currency election forms can be obtained by contacting the Company’s Registrars, Computershare Investor Services plc, on the Company’s dedicated telephone line: +44 (0)370 7030027.