Shareholders of TNM plc will go another year without dividends despite the company recording a profit of K10.5 billion in 2024.
The company, which failed to make a profit in 2023 — managing only K4.93 billion — announced the decision during its annual general meeting held in Blantyre on Monday.
This marks the third consecutive year that TNM shareholders have not received any dividend payouts, following a similar move in 2022 and 2023.
Addressing the shareholders, TNM Chief Executive Officer Ted Sauti Phiri acknowledged their patience during what he described as challenging times for the company.
“We appreciate your continued support and understanding. We are optimistic that with the return to profitability, the future will be better for all of us,” Phiri said.
He assured shareholders that the company is focused on strengthening its operations to sustain growth and possibly resume dividend payouts in the coming years.
TNM, one of Malawi’s largest mobile network operators, has faced stiff competition and rising operational costs in recent years — factors believed to have impacted its ability to reward investors.
