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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
10 years ago
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.

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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