By Chinwendu Obienyi
Shareholders of nation’s total energy provider Conoil Plc, at the weekend, unanimously approved a proposed final dividend payout of N1.734 billion, which translates to N2.50 per share for the 2021 financial year.
The dividend payout ratified at the company’s 52nd Annual General Meeting (AGM) held in Lagos, represents an increase of 66.7 per cent over the approved dividend payment of N1.04 billion in the 2020 financial year.
Conoil had assured the shareholders of its commitment to continue to deliver strong and sustainable performance that would enhance returns to its shareholders.
The Chairman, Conoil Plc, Dr. Mike Adenuga (jnr), in his address to the shareholders at the meeting, disclosed that the company’s five year growth strategy had started yielding dividends, leading to the impressive performance recorded in the 2021 financial year despite the tough operating environment.
According to Adenuga, Conoil remains motivated in creating excellent value for its shareholders.
“Much ground was covered and major strides taken in 2021 as further investments have been made in strengthening the company’s retail network, and important progress recorded on all fronts for the benefit of all other stakeholders,” he said.
He also revealed that the company plans to consolidate on the progress made in the previous years to deliver a strong and sustainable performance that enhances returns to our shareholders.
“The Company has strategically positioned its business to take advantage of key opportunities in the execution of the growth strategy. Our overriding goal is to ensure the continued delivery of excellent services to our customers and ultimately ensuring that our shareholders are rewarded”, Adenuga said.