Airtel announces interim dividend currency exchange rates
Airtel Africa Plc, the leading telecommunications company, has confirmed the default currency and options on currency election for the interim dividend.
The company also highlighted the currency exchange rates that will be applicable in determination of the interim dividend payment to shareholders that qualify for and have elected to receive the interim dividend payment in GBP or naira.
The announcement was contained in a statement sent to the Nigerian Stock Exchange, stating that shareholders who withheld their shares on the London Stock Exchange might elect to receive their entire dividend payment in GBP or US dollars, adding that partial elections were 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 London Stock Exchange(LSE) who do not indicate their currency of choice before November 27, 2020 will receive their dividends in US dollars,” Airtel said.
The closing date for the dividend currency election to the Company’s Registrars Computershare Investor Services Plc in the UK is November 27, 2020.
The telecom firm noted that shareholders that held their shares on the Nigerian Stock Exchange might elect to receive their entire dividend payment in dollars, adding that partial elections were not permissible.
Shareholders holding their shares on the NSE who do not indicate their currency of choice before November 27, 2020 will receive their dividends in naira. The closing date for the dividend currency election to the Company’s Registrars United Securities Limited in Nigeria is November 27, 2020.
According to Airtel the following currency exchange rate would be applicable in the determination of the interim dividend payment to any shareholders that qualify for and had elected to receive the interim dividend payment: 1 USD = 386 naira 1 USD = 0.7534 GBP.
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