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Home Companies Company News

Oando Plc To Pay N5.1billion Dividend After Suspending Dividend In 2011

Ugodre Obi-chukwu by Ugodre Obi-chukwu
July 4, 2013
in Company News
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oando

 

Shareholders of Oando Plc, Nigeria’s leading indigenous integrated energy group will receive a dividend of N5.1 billion for the year-ended December 31, 2012 as the company resumes payment of dividend.

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Although the company has been paying dividend over the years, 2011 was different.  The shareholders did not receive dividend following a major decline in the profit due to one-off write-offs that resulted from   impairments of assets, acquisitions, and termination of technical and managerial services charges.

However, having posted a profit after tax of N10.9billion for the 2012, the directors have recommended a dividend of N5.1 billion, which translated to 75 kobo per share.

The company, which is listed on the Nigerian Stock Exchange (NSE) and Johannesburg Stock Exchange (JSE), reported a jump of 526 per cent in profit after tax in 2012 to N10.9 billion from N1.8 billion in 2011.

 

More==>> Oando Resumes Dividend Payment with N5.1bn


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Tags: News ReviewOando Plc
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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