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MTN maintained its final dividend at R4.50, taking its total dividend for 2017 to R7, the same as in 2016. In 2015, before its Nigerian fine, MTN shareholders received a total dividend of R13.10 per share. More bad dividend news for shareholders in the mobile network’s results for the year to end-December released on Thursday morning is that its new management intends adopting a "rebased progressive dividend policy" — which translates into cutting its total dividend for 2018 down to R5. It will then grow from R5 by 10%-20% a year "over the medium term", the results statement said. MTN reduced its debt to R79.7bn from R87bn, and said it needed to cut future dividends to reduce it further. "Going forward, we will manage our holding company gearing at levels that are appropriate for a business with our corporate structure and risk profile," the company said in its results statement. The group’s overall revenue for 2016 declined by 10% to R133bn. SA overtook Nigeria as MTN’s largest rev...

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