{"id":10652,"date":"2026-11-06T05:30:53","date_gmt":"2026-11-06T05:30:53","guid":{"rendered":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/06\/airtel-africa-fixes-n1347-44-rate-for-interim-dividend-implying-n41-77-per-share-for-ngx-holders\/"},"modified":"2026-11-06T05:30:53","modified_gmt":"2026-11-06T05:30:53","slug":"airtel-africa-fixes-n1347-44-rate-for-interim-dividend-implying-n41-77-per-share-for-ngx-holders","status":"publish","type":"post","link":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/06\/airtel-africa-fixes-n1347-44-rate-for-interim-dividend-implying-n41-77-per-share-for-ngx-holders\/","title":{"rendered":"Airtel Africa fixes N1,347.44\/$ rate for interim dividend, implying N41.77 per share for NGX holders"},"content":{"rendered":"<p>Airtel Africa Plc has fixed an exchange rate of N1,347.44 per Dollar for its 3.1 US Cents-per-share interim dividend, translating to approximately N41.77 per share for Nigerian Exchange (NGX) shareholders who receive payment in Naira.<\/p>\n<p>The rate was disclosed in a <a href=\"https:\/\/doclib.ngxgroup.com\/Financial_NewsDocs\/48357_AIRTEL_AFRICA_PLC-INTERIM_DIVIDEND_CURRENCY_EXCHANGE_RATES_CORPORATE_ACTIONS_NOVEMBER_2026.pdf\">notice filed with the Nigerian Exchange (NGX) on Thursday<\/a>, November 5, 2026, and signed by the Group Company Secretary, Simon O\u2019Hara, outlining the currency options available to shareholders on the NGX and London Stock Exchange (LSE).<\/p>\n<p>The company said the dividend would be paid on December 11, 2026, to shareholders on its register at the close of business on November 13, 2026.<\/p>\n<h4><strong>Airtel Africa sets dividend conversion rates:<\/strong><\/h4>\n<p>Airtel Africa said the Naira and Pound Sterling conversion rates were determined using Dollar exchange rates available on October 30, 2026.<\/p>\n<ul>\n<li>The approved rate of N1,347.44 per Dollar translates the 3.1 US Cents dividend into approximately N41.77 per share, while the Sterling rate of $1 to \u00a30.7464 implies approximately 2.31 Pence per share.<\/li>\n<li>The naira conversion rate is approximately 7.5% lower than the N1,456.00 per Dollar adopted for the equivalent interim dividend in 2025.<\/li>\n<li>The lower conversion rate means each Dollar of dividend declared translates into fewer naira than it would at the previous year\u2019s rate.<\/li>\n<\/ul>\n<p>Airtel Africa increased its interim dividend by 9.2% to 3.1 US Cents per ordinary share.<\/p>\n<p>The company reported half-year profit of $452 million, representing a 20.5% increase, while basic earnings per share rose to 10.2 US cents from 8.3 US Cents.<\/p>\n<p><a href=\"https:\/\/nairametrics.com\/2024\/05\/28\/ten-stocks-with-best-dividend-payouts-in-nigeria-for-fy-2023\/\">Nairametrics previously reported<\/a> that Airtel Africa and Seplat Energy were among the NGX-listed companies paying dividends in US Dollars.<\/p>\n<p>The exchange rate selected for dividend conversion is therefore an important factor in determining the naira amount received by Nigerian shareholders.<\/p>\n<p>For comparison, <a href=\"https:\/\/nairametrics.com\/2025\/11\/04\/airtel-africa-declares-interim-dividend-of-n43-68-per-share-in-q2-2025\/\">Airtel Africa adopted N858.24 per dollar for its 2023 interim dividend<\/a>, substantially below the conversion rate announced for 2026.<\/p>\n<h4><strong>Airtel Africa announces dividend deadlines:<\/strong><\/h4>\n<p>Airtel Africa has provided separate currency-election arrangements for shareholders on the Nigerian and London Stock Exchanges.<\/p>\n<ul>\n<li>For NGX shareholders, the default payment currency is Naira, while LSE shareholders who do not make an election will receive their dividends in US Dollars.<\/li>\n<li>The last day to trade to qualify for the dividend is November 12, 2026, for NGX shareholders and November 11, 2026, for LSE shareholders.<\/li>\n<li>NGX shareholders may elect to receive payment in Naira or US Dollars, with Dollar elections requiring a Currency Election Form.<\/li>\n<li>Completed forms for Nigerian shareholders should be submitted or mailed to Coronation Registrars Limited.<\/li>\n<\/ul>\n<p>LSE shareholders may elect to receive Pounds Sterling or US Dollars through Computershare Investor Services Plc, while CREST participants can submit elections through CREST.<\/p>\n<p>The currency-election deadline is November 23, 2026, for shareholders on both exchanges.<\/p>\n<ul>\n<li>NGX shareholders who do not submit an election by the deadline will receive their dividends in Naira, while LSE shareholders will receive payment in US Dollars.<\/li>\n<li>The N41.77 per-share amount represents the conversion of the declared Dollar dividend at the approved exchange rate.<\/li>\n<\/ul>\n<p>The actual amount received by each shareholder will depend on the number of qualifying shares held and the currency selected.<\/p>\n<h4><strong>Airtel shares gain 178%:<\/strong><\/h4>\n<p>Listed on both the Nigerian Exchange and the London Stock Exchange, the company has recorded substantial share-price appreciation on the NGX in 2026, alongside the increase in its interim dividend and half-year earnings.<\/p>\n<ul>\n<li>Airtel Africa closed trading on Thursday, November 5, 2026, at N6,300 per share on the NGX.<\/li>\n<li>The stock began the year at N2,270 per share, representing a year-to-date gain of approximately 178%.<\/li>\n<li>The company ranked ninth on the NGX by year-to-date share-price performance, according to the supplied market data.<\/li>\n<li>Between August 7 and November 5, 2026, approximately 1.58 million Airtel Africa shares were traded in 10,340 deals, valued at about N9.46 billion.<\/li>\n<\/ul>\n<p>For shareholders, the interim dividend provides an additional return alongside the stock\u2019s capital appreciation.<\/p>\n<p>Investors seeking payment in US Dollars rather than Naira must submit their currency elections before November 23, ahead of the scheduled December 11 dividend payment.<\/p>\n<p>Source: <\/p>\n<div class=\"nSourse\">Nairametrics<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Airtel Africa Plc has fixed an exchange rate of N1,347.44 per Dollar for its 3.1 US Cents-per-share interim dividend, translating to approximately N41.77 per share for Nigerian Exchange (NGX) shareholders&hellip; 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