Amid harsh working setting, the administrators of Conoil Plc are recommending N1.4 billion as dividend payout to its shareholders for 2017 monetary 12 months. This interprets to N2.00 per each 50 kobo atypical share.
As acknowledged by an assertion by the corporate, the proposed dividend is predicted to be ratified by its shareholders on the firm’s forth coming yearly basic assembly in Uyo, Akwa Ibom State.
As a part of its board resolutions to the Nigerian Stock Exchange (NSE), the corporate accepted that the dividend warrants will probably be dispatched on July 9, 2018 to members whose names seem within the register of members on the shut of enterprise on June eight, 2018.
It defined that the board additionally accepted that the register of members and the switch books of the corporate will probably be closed from June 11, 2018 to June 15, 2018, each days inclusive to allow the preparation and cost of dividends.
“It is on file that the oil advertising big has a strong dividend payout historical past, which it has maintained over time; and this has regularly endeared it to its teeming shareholders.
“Between 2012 and 2016, the company has paid a total of N8.4 billion as dividend. In the opinion of capital market operators, the company’s consistent dividend payment history has raised the bar of the strategic positioning of the firm as truly the nation’s marketer of choice.”
The firm attributed the dividend to its sustained tradition of economic self-discipline, prudent and environment friendly execution of tasks and plans, aggressive product growth and advertising, supported by cutting-edge customer service supply.
“While assuring that its promise to its shareholders remains maximum value, it reiterated delivery of excellent service and products to its customers,” it added.