MTN Sees Dividend Cut to Minimum 700 Cents on Nigeria Penalty

MTN Group Ltd. said it would cut the full-year dividend to a minimum of 7 rand this year due to uncertainty surrounding the payment of a record $3.9 billion fine in Nigeria and the lack of U.S. dollars in the country.

Africa’s biggest wireless operator will pay a dividend of 13.10 rand for 2015, 5.2 percent higher than the previous year, the Johannesburg-based company said in a statement on Thursday.

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