FILE PHOTO: An MTN starter kit pack on display on a table at a retail stand in Abuja, Nigeria November 17, 2015. REUTERS/Afolabi Sotunde/File Photo
JOHANNESBURG (Reuters) - MTN Group, Africa's biggest mobile operator, is sticking to its 2018 dividend target despite new U.S. sanctions making it harder to repatriate cash from its Iran joint venture, the company said on Wednesday.
MTN, which reported a 7 percent drop in half-year profits on Wednesday, has around 3.4 billion rand (£197 million) in accumulated dividends and loans from its joint venture in Iran.
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