Airtel Africa Confirms Exchange Rate for Interim Dividend
- Airtel Africa fixed its dollar-to-naira rate at N1,347.44 for its 3.1 US cents interim dividend, translating to about N41.77 per share
- The company set November 23 as the deadline for shareholders to submit currency election forms ahead of the December 11 payment date
- Airtel Africa shares have surged 178% on the NGX this year, closing at N6,300 on November 5
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Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Airtel Africa Plc has announced a dollar-to-naira conversion rate of N1,347.44 for the payment of its interim dividend to shareholders in Nigeria, translating each qualifying share into roughly N41.77 in naira terms.
The telecommunications company disclosed the rate in a notice filed with the Nigerian Exchange (NGX) on November 5, 2026. The interim dividend was declared at 3.1 US cents per ordinary share, a 9.2% increase from the previous year's payment.
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The approved conversion rate is about 7.5% lower than the N1,456 per dollar that applied to the corresponding 2025 interim dividend. Both the naira and sterling conversion rates were derived from dollar exchange rates available on October 30, 2026.
The sterling equivalent was fixed at $1 to £0.7464, putting the payment at approximately 2.31 pence per share for London investors.
How shareholders will receive payment
Payments will be made on December 11, 2026, to shareholders on the company's register at the close of business on November 13.
The last day to trade and qualify is November 12 for NGX investors and November 11 for those listed on the London Stock Exchange.
NGX investors will receive their dividends in naira by default. Those who prefer US dollars must submit a Currency Election Form to Coronation Registrars Limited.
London-listed shareholders will receive dollars by default but can opt for pounds sterling through Computershare Investor Services Plc. The deadline for currency elections on both exchanges is November 23, 2026.
Shareholders who miss the deadline will receive payment in the default currency for their respective exchanges, Nairametrics reports.
Source: Getty Images
Airtel Africa's financial performance
The dividend increase came alongside improved half-year results. Airtel Africa recorded a 20.5% rise in half-year profit to $452 million, while basic earnings per share increased to 10.2 US cents from 8.3 US cents in the previous period.
The dividend provides shareholders with an additional return alongside the year's share-price gains, although the actual naira amount each investor receives will depend on the approved conversion rate and the number of qualifying shares held.
How to recover unclaimed dividends in Nigeria in 3 easy steps
Earlier, Legit.ng reported that Nigerians who bought shares years ago, inherited investments, or stopped receiving dividend payments may have money waiting to be claimed.
The Securities and Exchange Commission (SEC) has continued to encourage shareholders to update their records and register for electronic dividend payments, a move designed to reduce the large pool of unclaimed dividends in Nigeria’s capital market.
The regulator operates an online database where investors can check whether their shareholding accounts have been registered for electronic dividend payments.
Source: Legit.ng
