Oil Marketing giant, 11 Plc (formerly Mobil Oil Nigeria Plc) has announced a dividend of N8.25 for every 50 kobo share for the period ended December 31, 2019.
The dividend payment which will be paid to shareholders whose names appear in the Register of Members as at the close of business on September 29, 2020, is subject to appropriate withholding tax.
This information is contained in a notification that was sent by 11 Plc to the Nigerian Stock Exchange (NSE) on September 3, 2020, and signed by the Company Secretary, Chris-Olumayowa Meseko.
The statement from 11 Plc reads, ‘’A dividend of N8.25k for every share of 50k, 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 29 day of September 2020.’’
‘’The Register of Shareholders will be closed on September 30 to October 5, 2020 (both dates inclusive).’’
The corporate action announcement of the oil firm states that the dividends will be paid electronically on October 15, 2020, to shareholders whose name appear on the Register of Members as at September 29, 2020, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.
It advised shareholders who are yet to complete the e-dividend registration to download the Registrar’s E-Dividend Mandate Activation Form which is also available on the website of the Registrars, and then complete and submit to the Registrar or their respective banks.
The oil marketing firm also advised shareholders with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment or returned for validation are to complete the e-dividend registration or contact the Registrar.
The statement also disclosed that the Company’s Annual General Meeting will be held at the Lagos Hall, Transcorp Hilton Hotels, Abuja on October 14, 2020, at 11.00 am.
11 Plc, in its full-year 2019 financial statement, recorded revenue of N191.676 billion. This represents a 16% increase when compared to the N169.610 billion that was recorded for the corresponding period in 2018.
The profit before tax dropped from N13.695 billion for full-year 2018 to N13.123 billion for the corresponding period in 2019. This shows a 4% drop.
Its profit after tax as at December 31, 2019, was N8.856 billion. This shows a 5.1% drop when compared to the N9.329 billion that was recorded for the corresponding period in 2018.