Companies
Caverton confirms mega Chevron contract has taken off
Published
3 years agoon
Caverton Helicopters, a subsidiary of Caverton Offshore Support Group Plc, has commenced its Chevron logistics support contract by taking the first official flights to Excravos on Sunday the 1st of May.
Two helicopters- a Bell 407 GXP and a Bell 412 were flown to the facility by Caverton’s Chairman, Capt. Josiah Chioms and Capt. Daniel Pam with his co-pilot, First Officer Atonyapagha Oruh; respectively.
In a released statement issued to Nairametrics concerning the development, the company expressed optimism that this move would not only be beneficial to them but also positively impact the entire West African helicopter support business sector.
The Chevron Contract (a total of 11 aircraft involved), promises to be a big game changer for Caverton Helicopters in particular, and the entire offshore helicopter support business in West Africa. The commencement contract was preceded by months of hard work and preparation by various departments in the company as well as rigorous pre-commencement audit by NCAA.-Caverton
A look at Caverton’s expansion drive
The company had last year secured a five-year logistics contract with Chevron Nigeria Limited after a competitive tendering process. The contract, which comes with a 2-year renewable option, would see the aviation company provide logistics support for the oil company which currently operates the NNPC/Chevron joint venture in Excravos.
Caverton Offshore Support Group Plc earlier in the year unveiled eleven newly-acquired helicopters which were purchased solely for the purpose of this Chevron contract. This increased the company’s total helicopter fleet to seventeen.
What does this mean for Caverton and its shareholders?
As we earlier analyzed, this year has begun on a good note for the company, especially in the light of the above mentioned contract with Chevron. More so, global oil prices have been on the high, thereby indicating more promising opportunities for the company. Should the oil market maintain its current trend, Caverton will surely earn higher revenue this year, increase its profit and hopefully, pay dividends to its shareholders.
Caverton Offshore Support Plc is a marine and aviation logistics company which operates in Nigeria’s oil and gas sector. It was incorporated in 2008 and positioned for the acquisition of Caverton Marine Limited and Caverton Helicopters Limited, two previously existing logistics companies that were incorporated in 1999 and 2002 respectively. Its shares are currently trading at ₦2.40 in today’s session of the Nigerian Stock Exchange.
Emmanuel is a professional writer and business journalist, with interests covering Banking & Finance, Mergers and Acquisitions, Corporate Profiles, Brand Communication, Fintech, and MSMEs.He initially joined Nairametrics as an all-round Business Analyst, but later began focusing on and covering the financial services sector. He has also held various leadership roles, including Senior Editor, QAQC Lead, and Deputy Managing Editor.Emmanuel holds an M.Sc in International Relations from the University of Ibadan, graduating with Distinction. He also graduated with a Second Class Honours (Upper Division) from the Department of Philosophy & Logic, University of Ibadan.If you have a scoop for him, you may contact him via his email- [email protected] You may also contact him through various social media platforms, preferably LinkedIn and Twitter.
Companies
Dangote Sugar proposes N18.2 billion as final dividend for 2020
Dangote Sugar Refinery Plc has proposed a sum of N18.2 billion as the final dividend for shareholders.
Published
11 hours agoon
March 2, 2021
The Board of Directors of Nigeria, Dangote Sugar Refinery Plc has proposed a sum of N18.2 billion as the final dividend for shareholders for the period ended 31st December 2020.
This announcement was contained in the audited financial statement of the leading integrated sugar company.
In line with the statement of the Board of DSR, the approval of this proposed dividend at the forthcoming Annual General Meeting will see Dangote Sugar pay out a final dividend of N1.50 for each of the outstanding 12,146,878,241 ordinary shares of the company, held by its shareholders.
The proposed dividend is 36.36% higher than the final dividend of N1.1 per share (N13.36 billion) the sugar company paid its shareholders in 2019.
What you should know
- Dangote Sugar Refinery declared in its audited statement for the period ended 31st December 2020 that its profit for the year climbed to N29.8 billion, from N22.4 billion in 2019.
- According to these figures, DSR’s earnings per share for 2020 are pegged at N2.45. Hence, with a dividend of N1.50 per share, Dangote Sugar is set to payout 61.2% of its profits for 2020.
- At the close of trading activities on the floor of the Nigerian Stock Exchange today, shares in Dangote Sugar Refinery declined by 0.83% to close lower at N17.85.
- At this price, the dividend yield of Dangote Sugar shares is 8.40%.
Companies
Nestle declares N28.1 billion as final dividend for 2020
The Board of Nestle Nigeria Plc has announced the payment of N28.1 billion to its shareholders as the final dividend for 2020.
Published
1 day agoon
March 1, 2021
The Board of leading consumer goods company, Nestle Nigeria Plc, has announced the payment of N28.1 billion to its shareholders as the final dividend for the period ended 31st December 2020.
According to the announcement published by the company on the website of the Nigerian Stock Exchange, Nestle is expected to pay a final dividend of N35.50 per share for all the outstanding 792,656,252 ordinary shares of the company.
This brings the total dividend payout to qualifying shareholders to N28.14 billion.
The final dividend, however, will be paid electronically to shareholders on the 23rd of June, 2021, subject to appropriate withholding tax and approval at the Company’s Annual General Meeting.
Other key conditions outlined by the company for qualifying shareholders include:
- Shareholders whose names appear on the registrar of members as of 21st of May, 2021 will be considered.
- Qualifying Shareholders must have completed the e-dividend registration and must have mandated the Registrar (Greenwich Registrars) to pay their dividends directly into their bank accounts.
- In line with this, the register of shareholders will be closed from 24th of May to 28th May 2021, to enable the registrar to process the dividends of Nestle’s shareholders.
In case you missed it
- Nestle paid an Interim dividend of N25 per share to shareholders towards the end of 2020.
- It is important to note that the addition of this to the final dividend of N35.5, puts Nestle’s total dividend for 2020 at N60.5 per share. This is 13.57% lower than the total dividend payout for 2019 (N70 per share).
What you should know
- Nestle declared in its audited financial statement for 2020, that it made a profit before income tax of N60.6 billion in 2020. Indicating a decline of 14.74%, when compared with 2019 figures.
- The company’s earnings per share (EPS) during the period under review was N49.47, 14.16% lower than 2019 EPS.
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