Airtel Africa sets N1,347.44/$ rate for N41.77 per share interim dividend

Airtel Africa Plc has confirmed the exchange rate it will use to convert its interim dividend from US Dollars to Naira for shareholders listed on the Nigerian Exchange (NGX). The company fixed the rate at N1,347.44 per US Dollar, which translates to an approximate payout of N41.77 per ordinary share for Nigerian investors who elect to receive their dividends in the local currency. This decision was disclosed in a notice filed with the NGX on Thursday, November 5, 2026, and signed by Simon O’Hara, the Group Company Secretary. The notice outlines the specific currency options available to shareholders registered on both the NGX and the London Stock Exchange (LSE).

The dividend payment is scheduled to be made on December 11, 2026. According to the company, eligibility for this payout requires shareholders to be listed on the register by the end of trading on November 13, 2026. Airtel Africa reported that the exchange rates for the Naira and Pound Sterling were calculated based on US Dollar values recorded on October 30, 2026. Shareholders who wish to receive their dividends in US Dollars rather than Naira or Pounds Sterling must submit their currency elections by November 23, 2026. The final amount each shareholder receives will depend on the number of qualifying shares they hold and the specific currency they select.

Background

The telecommunications firm raised its interim dividend by 9.2 percent, bringing the total to 3.1 US cents for each ordinary share. This increase follows the company’s recent financial performance, where it reported a half-year profit of $452 million, marking a 20.5% rise. Additionally, basic earnings per share increased to 10.2 US Cents, up from 8.3 US Cents in the previous period. The company is dual-listed on the NGX and the LSE, and it has experienced significant share-price appreciation on the Nigerian exchange in 2026, coinciding with the growth in its interim dividend and earnings.

For shareholders on the LSE, Computershare Investor Services Plc manages the currency election process, allowing them to choose between receiving Pounds Sterling or US Dollars. Participants in the CREST system can submit their elections directly through that platform. In contrast, shareholders on the NGX have the option to receive payment in Naira or US Dollars. The choice of exchange rate is a critical factor for Nigerian shareholders, as it directly impacts the naira value of the dividend received. For comparison, Airtel Africa had adopted a rate of N858.24 per dollar for its 2023 interim dividend, which is substantially lower than the 2026 rate. Nairametrics has previously noted that Airtel Africa and Seplat Energy are among the NGX-listed companies that pay dividends in US Dollars.

Why it matters

The fixed exchange rate determines the actual naira income for Nigerian investors, making it a key component of their total return from holding Airtel Africa shares. With the stock price appreciating on the NGX in 2026, the interim dividend provides an additional financial return alongside capital gains. The timing of the currency election deadline is crucial for investors seeking to optimize their payout currency. Those who fail to submit their elections by November 23, 2026, may be subject to default arrangements or may miss the opportunity to select their preferred currency. The substantial difference between the 2023 and 2026 exchange rates highlights the impact of currency fluctuations on dividend values for local currency holders.

What happens next

Shareholders must act before the November 23, 2026 deadline to submit their currency elections. The record date for determining eligibility is November 13, 2026. Following these dates, the company will process the payments, with the funds expected to be distributed on December 11, 2026. Investors should monitor their brokerage accounts and ensure their share registrations are up to date to avoid any delays in receiving their dividends.