MTN Aims to Return More Money to Its Shareholders, CEO Phuthuma Nhkeo Says

MTN Group Ltd. plans to return more money to shareholders as it balances investor needs with its own growth aspirations, Chief Executive Officer Phuthuma Nhleko said.

“One of the things we will do is to increase dividend payout ratio,” he said at the company’s annual general meeting today. “Future growth will be organic and likely to be smaller bolt on acquisitions.”

To contact the reporter on this story: Nicky Smith in Johannesburg at nsmith38@bloomberg.net

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