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Home Companies Company News

Oando Plc Has Paid N16.39Billion In Dividends In The Last Five Years

Ugodre Obi-chukwu by Ugodre Obi-chukwu
June 12, 2013
in Company News
Oando Plc Has Paid N16.39Billion In Dividends In The Last Five Years
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Oando plc has paid a gross dividend of N16.39 billion in the last five years in line with its determination to create value for its shareholders, even as industry sources have said shareholders should expect a bountiful harvest for the year ahead.

Despite the challenging operating environment, Oando has been recording profit over the years and rewarding shareholders with dividend and bonus issues. Between 2006 and 2010, for instance, the company paid a total dividend of N16.39 billion to shareholders.

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Chief Executive Officer Wale Tinubu said Oando’s Nigerian oil output will rise to 100,000 barrels a day by 2015 from the current 10,000 barrels after taking over the assets of Houston- based ConocoPhillips (COP).

Its N54.6 billion ($345 million) rights offer, which ended on Feb. 20, was held to partly fund the acquisition. 

Oando pays N16.4bn dividend, analysts project strong outlook

Tags: News Review
Ugodre Obi-chukwu

Ugodre Obi-chukwu

Ugo Obi-Chukwu "Ugodre" is the Founder, Publisher, and Chief Analyst of Nairametrics, a leading business and financial news online platform in Nigeria. Ugo is also the Chief Editor of the Nairametrics “Blurb” Opinion pages. Follow Ugodre on Twitter @ugodre and Instagram @ugodre Email: ugodre@nairametrics.com

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