RECENTLY listed Mobile Telecommunications (MTC) Limited has announced that it expects profit after tax for 2021 to be up between 17% and 23% from the prospectus estimates.
A good profit is always good for shareholders, but this dividend will, however, only be for the state and not for new shareholders.
At the initial public offer, MTC had predicted that profit after tax would be at N$618 million. An increase of 20% will see profits of N$741 million.
MTC has been paying out almost 70% of its profits as dividends to shareholders, but it is not clear if it will maintain the same pace.
According to the Namibian Stock Exchange’s news and daily update platform, the company will publish its financial statements for the year ending 30 September 2021, on or before Thursday, 9 December.
The company was listed on the bourse on 19 November, with an IPO coming short at N$2,5 billion, 19% below the N$3,1 billion that was expected to flow into the state kitty.
According to an announcement made yesterday by the company, all 5 166 new shareholders should be able to collect their share certificates on or around 31 December.
“We will be notifying our esteemed shareholders via SMS to collect their certificate once it is available at their elected Mobile Home or collection point as chosen on the MTC share application form,” MTC chief human capital and corporate affairs officer Tim Ekandjo says.
The public can now further engage the markets by buying or selling MTC shares through a stockbroker who will assist existing and prospective shareholders.
The new shareholders will only be able to benefit from MTC next year, if a dividend is declared in the interim.
Email: bottomline@namibian.com.na
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