Conoil Plc has declared a final dividend of N3.50 for every share of 50 kobo, payable to shareholders registered as of 21st November 2025.
This was disclosed in a corporate filing on the Nigerian Exchange on 14th November 2025, signed by Bolaji Owolabi, acting company secretary.
According to the filing, the dividend for the year ended 31st December 2024 will be paid electronically to shareholders on 23rd December 2025, subject to withholding tax and regulatory approval.
The company further stated that shareholders should complete their dividend registration and advised those who have not yet registered to do so promptly by downloading the Registrar’s E-Dividend Mandate Activation Form.
For the year ended 31st December 2024, Conoil reported a pretax profit of N11 billion, slightly down from N12.2 billion in 2023, while retained earnings rose to N35.3 billion, representing a 21.90% increase.
What to know
- The final dividend of N3.50 per share has a total value of N2.42 billion.
- At a market price of N190.70, this represents a dividend yield of 1.84%.
- The payout corresponds to a dividend payout ratio of 27.68%.
Recent performance
Conoil Plc reported a profit before tax of N728 million for the third quarter (Q3) ended 30 September 2025, a sharp 85.50% year-on-year decline from N5.02 billion posted during the same period in 2024.
This contributed to a steep 88% year-on-year decline in the nine-month pre-tax profit, which fell to N1.88 billion from N15.24 billion for the same period last year.
According to the unaudited financial results released on November 1, 2025, at the Nigerian Stock Exchange (NGX), revenue also suffered a notable decline.
Revenue
In Q3, revenue decreased by 12.22% year-on year to N60.18 billion, which also reduced the nine-month figure by 18.8% to N203.83 billion.
- Conoil’s revenue was largely supported by its core business segments, including White Products, Lubricants, and Liquefied Petroleum Gas.
- All segments, however, recorded a decline, with the White Products segment, which includes petrol and kerosene, experiencing the most significant drop.
- Lower sales volumes and a challenging market environment in this segment contributed to the overall year-on-year decrease in revenue.
Rising cost pressure
The company’s cost of sales fell by 9.42% year-on-year to N54.86 billion, reflecting the decline in revenue.
- Despite the reduction in costs, gross profit margin contracted by 8.8% in Q3 2025 from 11.7% in the same period last year.
Operating profit fell sharply by 35.8% year-on-year to N1.64 billion as margins came under pressure from rising administrative and distribution expenses.
Administrative costs increased by 24%, mainly due to inflationary pressures and higher staff-related expenses.
Finance costs spiked to N2.13 billion, a 744% increase year-on-year, following a significant rise in borrowings.
