Oil marketing giant, Conoil Plc, has announced a final dividend payment of N2.00 per ordinary share of 50 kobo each for the period ended December 31, 2019.
The final dividend payment which will be paid to shareholders whose names appear in the Register of Members as at close of business on Monday, July 13, 2020, is, however, subject to the appropriate withholding tax deduction and the approval of the shareholders.
This information was contained in a notification that was sent by Conoil Plc to the Nigerian Stock Exchange (NSE) on Thursday, July 9, 2020, and signed by its Company Secretary/Legal Adviser, Conrad Eberemu after the release of the full-year audited financial statement for the year ended 2019.
The statement from Conoil says, ‘’A final dividend of 200 kobo per 50 kobo ordinary share, subject to appropriate withholding tax and approval will be paid to shareholders whose names appear in the Register of Members as at the close of business on the Monday, 13th day of July 2020.’’
‘’The Register of Shareholders will be closed from Tuesday, 14th to Friday, 17th July 2020.’’
(READ MORE: Conoil Plc releases FY financial result for 2019, profit up by 11% )
The corporate actions announcement by the oil firm also states that while the payment date will be on a date to be announced shortly, the dividends will be paid electronically to shareholders whose names appear on the Register of Members as at Monday, July 13, 2020, and who have completed the e-dividend registration with a mandate to the Registrar to pay their dividends directly into their bank accounts.
The oil marketing company also noted that shareholders with dividend warrants and share certificates that have remained unclaimed, or yet to be presented for payment or returned for validation are advised to complete the e-dividend registration or contact the Registrar (Meristem Registrars and Probate Services Limited).
The company’s Annual General Meeting (AGM) will be held at a venue and date to be announced shortly.
Conoil PLC, in its recently released audited financial statement for full-year 2019 announced a Profit after tax of N1.99 billion as of December 31, 2019. This represented an increase of 11% when compared to the N1.8 billion that was recorded for the corresponding period in 2018.
The profit after tax was recorded on a Revenue of N139.76 billion as of December 31, 2019. This also represents an increase of 14% when compared to the N122.21 billion that was achieved for December 31, 2018.
The Profit before tax as of December 31, 2019, was N2.78 billion as against the N2.57 billion achieved for the corresponding period in 2018.
The current share price of the oil marketing firm as of July 9, 2020, is N18.90 per share and the earnings per share is N2.77.
