Airtel Africa Plc has fixed an exchange rate of N1,347.44 to the US dollar for its 2026 interim dividend, translating its declared 3.1 US cents per share into approximately N41.77 for shareholders receiving payment in naira.
The approved conversion rate, disclosed in a notice filed with the Nigerian Exchange (NGX) on November 5, 2026, provides the basis for calculating the naira equivalent of the dividend payable to Nigerian shareholders.
According to the notice signed by the company’s Group Company Secretary, Simon O’Hara, the dividend will be paid on December 11, 2026, to shareholders whose names appear on the company’s register at the close of business on November 13, 2026.
Airtel Africa also announced a sterling conversion rate of £0.7464 per US dollar, translating the dividend into approximately 2.31 pence per share for eligible shareholders opting for payment in British pounds.
The company said the naira and sterling conversion rates were determined using exchange rates available on October 30, 2026.
The approved N1,347.44 exchange rate represents a reduction of approximately 7.5 per cent from the N1,456 per dollar adopted for the equivalent interim dividend in 2025.
Consequently, Nigerian shareholders receiving their dividends in naira will get fewer naira for each dollar of dividend declared, despite the increase in the underlying dividend.
Airtel Africa raised its interim dividend by 9.2 per cent to 3.1 US cents per ordinary share, reflecting improved financial performance during the period.
The telecommunications company reported a half-year profit of $452 million, representing a 20.5 per cent increase, while basic earnings per share rose to 10.2 US cents from 8.3 US cents.
The company is among the NGX-listed businesses that pay dividends in foreign currency, making the exchange rate adopted for conversion an important consideration for local investors.
For comparison, Airtel Africa used an exchange rate of N858.24 per dollar for its 2023 interim dividend, highlighting the significant changes in the naira value of its dividend payments over recent years.
Airtel Africa has outlined separate currency-election arrangements for shareholders on the Nigerian and London stock exchanges.
NGX shareholders will receive their dividends in naira by default but may elect to receive payment in US dollars by completing a Currency Election Form.
Completed forms must be submitted or mailed to Coronation Registrars Limited.
For shareholders on the London Stock Exchange (LSE), the default payment currency is the US dollar, although investors may elect to receive their dividends in pounds sterling through Computershare Investor Services Plc. CREST participants can also submit their elections through the CREST system.
The company has set November 23, 2026, as the deadline for currency elections on both exchanges.
Shareholders who fail to submit their elections before the deadline will receive payment in the default currency applicable to their exchange: naira for NGX investors and US dollars for LSE investors.
The last day to trade to qualify for the dividend is November 12 for NGX shareholders and November 11 for LSE shareholders.
The actual dividend received will depend on the number of qualifying shares held and the currency selected by each investor.
