Ethio Telecom shares reached 852 Br in secondary trading, more than double the 300 Br offer price, following a dividend declaration for the year ending June 2024.
Ethio Telecom declared a 9.67 billion Br dividend for the financial year ending June 2024 at a 50.9 percent payout ratio. The full 12 billion Br dividend went to the federal government. New shareholders buying in secondary markets are excluded from dividends for the fiscal year ending July 2025 and must wait for the 2025/26 cycle.
The company plans a transition to a 70 percent payout structure through Ethiopian Investment Holdings. Shares climbed 143 percent above the initial offer price in over-the-counter trading with few sellers present.
Retail investors paid premium rates but receive no immediate dividend access under current rules.