MTN promised to shower investors with almost R5bn in a dividend windfall in the next financial year and possibly more via special payouts such as share buybacks, seeking to keep shareholders on its side after it unexpectedly suspended rewards on Wednesday.

Africa’s largest mobile phone operator by subscribers is not alone in withholding returns from shareholders as companies across the country stockpile to navigate the challenges posed by the pandemic-induced economic downturn...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now