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Total Nigeria’s total dividend payout now N11 per share

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Total Nigeria plc total dividend payout stood at N11 per share in 2013, the company’s annual report presented to shareholders at its annual general meeting shows.

Total Nigeria plc, a key player in the energy sector, at its 36th annual general meeting got shareholders approval to payout N3.1 billion as dividend representing N9 per share. The company had earlier distributed the sum of N679 million as interim dividends, representing N2 per share.

The annual report for the year ended December 31, 2013 presented to shareholders at the meeting showed profit after tax (PAT) of N5.3 billion, representing 14 percent increase compared to the N4.7 billion recorded in 2012 financial year.

Key highlights from the company’s report shows that the company’s revenue improved slightly from N217.8 billion recorded in 2012 financial year to N238.2 billion in 2013 financial year, thereby representing 9 percent increase.

Shareholders fund increased by 17 percent, from N11.3 billion in 2012 FY to the current N13.2 billion, while the company’s share capital remains static at N170 million both in the previous year and the current year.

However, in spite the difficulties and challenges in the year ended 2013; the company reported a turnover increased from N217.8 billion in 2012 FY to N238.2 billion in 2013 FY, with market share rising from 11.4 percent to 11.7 percent.

Momar Nguer, chairman, Total Nigeria plc, said 2013 was a difficult year for the company and the business environment, but the company had thrived to improve its financial performance slightly.
Commenting on the dividend payout, Momar said that it was on consonance with the company’s commitment to delivering value to shareholders investment, despite the numerous difficulties encountered by the company.
He said security remains a major concern across the country, noting that everybody in the country continues to experience pockets of violence most especially in the northern states.
Godwin Anono, chairman, Standard Shareholders Association of Nigeria, commended the company for the performance in spite unfriendly operating environment.

Article Credit: Business Day

Updated 5 Years ago

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