Onatel SA: 22 billion FCFA dividends to distribute

2023-05-15 08:25:46

• At the rate of 329 FCFA for each action

• A profit down 31% compared to 2021

Lhe shareholders of the Burkinabè telephone company, Onatel SA, will attend an Ordinary General Meeting on May 9, in Ouagadougou. On the agenda, they will mainly proceed to the examination and approval of the reports and financial statements for the financial year to December 31, 2022. A financial year which ended with a net profit of 22.372 billion FCFA.

One of the major resolutions that will be discussed at this AGM will be the distribution of dividends. In the draft resolution of which L’Economiste du Faso has received a copy, the Board of Directors proposes to distribute the amount of the profit at the rate of 329.0056 FCFA for each of the 68,000,000 shares making up the share capital and entitled to the fact of their date of enjoyment. This dividend will be paid from June 15, 2023.
In accordance with the provisions of the new Tax Code, dividends will be subject to tax on income from movable capital (IRCM) at the rate of 12.5%. The IRCM’s net dividend per share therefore amounts to 287.8799 FCFA.

If the 2022 financial year ended with a large profit, it should however be noted that this amount is down 31% compared to that of 2021. The net profit then amounted to 32.37 billion FCFA. A poor performance which can find its explanation in the crisis experienced by the company during the past year. This caused mood swings and other work stoppages. It should be noted, however, that a way out of the crisis is in the process of being found. On April 7, the Minister of State, Minister of Public Service, Labor and Social Protection, Bassolma Bazié, the Minister in charge of the digital economy, Aminata Zerbo, and the Minister Delegate in charge of Security, Mahamadou Sana, received, in Ouagadougou, the General Directorate of the National Telecommunications Office (ONATEL) and the National Union of Telecommunications (SYNATEL). The members of the Burkinabè Executive conveyed the orientations of the President of the Transition, Head of State, Captain Ibrahim Traoré, to the two parties for an appeasement of the social climate in this society. For the Minister of State, Bassolma Bazié, the Head of State invites the General Management of ONATEL to look into the question of the salaries of workers for the month of December last, in order to allow better treatment of pensions for all retirees from December 2022. The second orientation of the President of the Transition concerns the establishment of an interministerial committee to examine the documents on the basis of which the privatization of ONATEL was made. This committee will be responsible for making observations and recommendations to the government. As such, the parties have indicated their availability to support this committee in carrying out its mission.o

framed

L’financial year ended December 31, 2022 shows a net profit of 22,372,337,396 FCFA. In view of this net profit, the Board of Directors proposes to distribute dividends in the amount of 22,372,380,800 FCFA by absorbing the balance of the premiums linked to the distributable capital for an amount of 45,225 FCFA and to carry forward again the remainder of the profit distributable.