Malawi Stock Exchange-listed telecommunications firm, Airtel Malawi, on Wednesday declared K27.5 billion divident, representing K2.50 per ordinary share.
However, the dividend is lower than the K32.5 billion declared in the preceding year, which represented K2.95 per share.
Speaking at the company’s annual general meeting in Blantyre, Airtel Malawi Managing Director Charles Kamoto said the firm remained cautious of the economic terrain.
“We want to invest in more technology and widen our reach to rural areas, which all need money. Besides that, we have to be strategic with finances considering risks that have engulfed the economy,” Kamoto said.
Meanwhile, during the year, the company announced to have made a profit-after-tax of K36.9 billion during the year ended December 31 2022, up from K32.3 billion recorded during the preceding year.
Kamoto attributed the growth in profit to an increase in customer base, which boosted revenue.
“We saw an increase in customer base by five percent and average revenue per customer also increased by around 10 percent. Therefore, both of these factors combined saw our revenue increase by a substantial margin,” Kamoto added.
One of the shareholders, William Matewere, said he was impressed with the performance of the company.
“If we are talking of achieving the Malawi 2063 agenda, we need the private sector to play its role. Therefore, we are satisfied with the explanation by the company and we hope this will also help its growth,” Matewere said.
