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What is a dividend?

A dividend is a taxable sum of money declared by a company’s board of directors and given to its shareholders out of the company’s current or retained earnings. Dividends are usually given as cash (cash dividend), but they can also take the form of stock (scrip dividend) or other property. There is no guarantee that a company will make dividend payments in any given year or years.

Can I take my dividend in shares?

It depends on the type of the dividend declared. If it’s a purely cash dividend, you do not have an option to take up shares instead. However, if a cash dividend with a scrip option is declared, you can opt to receive more shares in the company. If you are paid your dividend in cash, you can ask you broker to reinvest the proceeds into TNM shares on your behalf.

Shares and share dealings

What does a shareholder receive as proof of shareholding?

A share certificate is the proof of shareholding in any company. Buyers of shares can request for a share certificate from the broker through which they bought their shares.

Which shareholders can attend the Annual General Meeting?

Every shareholder, both majority and minority shareholders, has the right to attend the Annual General Meeting, either in person or by proxy. The proxy need not be a member of the company.

What would you advise a shareholder wishing to buy or sell shares?

For professional advice on buying and selling TNM shares on the Malawi Stock Exchange, we refer you to any of the registered stock brokers in Malawi, whose details are available under the ‘Analysts‘ section of this website.

What is a share?

The ownership of a company can be shared by many people and organisations. A share is a unit of ownership. When you own a share you become a part-owner (shareholder) of a company and you will have the right to receive any dividends paid on each share that you own, receive an electronic or paper copy or summary of the company’s annual report and financial statements as well as any other shareholder communications. You will also have the right to attend, ask questions and vote at general meetings of the company.

What factors affect the share price of a company?

The share price will be influenced by a number of factors, some of which are outside the company’s control. The factors may include:

  • the performance and prospects of the company or the industry in which the company operates;
  • political, general economic, financial and stock market conditions;
  • perceptions of investors about the above factors.

As with all listed shares, the share price of TNM Limited on the Malawi Stock Exchange can go up or down. If you sell your shares, you may receive more or less than you originally paid for them.

How can I work out the value of my TNM shareholding?

Share prices generally change on a daily basis. To value your portfolio, simply multiply the number of shares you own in TNM by the current share price as available in the Share Quote. Note that this value excludes transaction costs, which vary by country of jurisdiction.

What should I have to confirm my shareholding in TNM Limited?

When you buy shares in TNM, or any listed company for that matter, you should get a contract note and then a share certificate from the broker through which you bought your shares.

How can I get hold of updates from your company?

To receive updates from TNM Limited, you should register for e-mail alerts. Alternatively, you can send us your feedback through the ‘Contact IR Team‘ section of the site.


What is TNM Limited's fiscal year-end?

TNM Limited’s fiscal year-end is 31 December.

Registration problems


Some mail servers and/or anti-virus software may mark the verification emails sent to you upon registration as spam. If you have a Spam folder, locate the email from TNM, open it and click the “Not Spam” button. This will return the mail to the inbox and remove the block that was placed on your mail. If you do not have a spam folder please contact your company systems administrator for assistance.

Download issues

If you are having a problem downloading or opening any document please make sure you have Acrobat Reader 5.0 or above and Microsoft Office installed on your computer. If they are both installed and the problem still persists contact your systems administrator or contact us.

Please report broken links or page errors on by the completing the comment box on the contact us.

How often will your subscriber numbers be released?

Subscriber numbers are normally released quarterly from the date of listing. We recommend that you register to receive such and other timely updates from us.

I would like to receive timely updates on developments in TNM, how can I go about it?

TNM undertakes to provide timely communications and comprehensive data, functionality and feedback to and feedback from investors through its investor relations website:

To receive timely updates, investors are invited to register on TNM’s investor relations website and opt in to receive e-mail alerts on all corporate communications, regulatory announcements, annual reports, presentations, share prices and other investment related information.