Crystal Telecom to disburse over Rwf2.2bn in dividends

Shareholders of Crystal Telecom shares are set to receive a dividend payout of Rwf8.2 per share in coming days following a decision by the by the firm’s board. The total proposed dividend disbursement is Rwf 2,215,454,024 which represents a dividend of Rwf8.2 per share of 270,177,320 shares issued during last year’s Initial Public offer. According to Crystal Telecom Limited, the dividend will be paid out following approval by the shareholders Annual General Meeting to be held in coming days. Crystal Telecom, a subsidiary of Crystal Ventures, last year sold 270.71 million shares representing their 20 per cent stake in Rwanda’s leading telecom, MTN Rwanda. This is the second dividend payment in a period of less than a year since the Initial Public Offer (IPO) that closed in June last year. The company paid a first special dividend per share of Rwf 3.75 in October last year. According to analysts from CDH Capital, a local brokerage firm, by paying total dividend of Rwf11.95 per share so far, the company shows its promise to its shareholders by above normal return on investment. Noordally Shehzad the CEO of CDH Capital said that payment is likely to drive up interest in the firm’s shares locally, regionally and internationally.

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Crystal Telecom to disburse over Rwf2.2bn in dividends