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Shareholders approve Total’s N4.07 billion final dividend

By Helen Oji
13 June 2016   |   2:22 am
For increasing shareholders value on investment through dividend payout and adherence to corporate governance principles, shareholders’ of Total Nigeria Plc ...

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Laud firm’s corporate governance principles

For increasing shareholders value on investment through dividend payout and adherence to corporate governance principles, shareholders’ of Total Nigeria Plc,  at the weekend, commended the company’s board on the efficient running of the affairs of the firm, even as they approved a final dividend of N4.07 billion, translating to N12.00 per share.

The company had earlier paid an interim dividend of N679 million, culminating to N2.00 due to every shareholder of the company.

Specifically, the Secretary General, Independence Shareholders Association of Nigeria, Adebayo Adeleke expressed satisfaction with the state of affairs of the company.

He, however, urged the company to reduce the number of unclaimed dividend in the list by making it public and listing it on the company’s website.

He also expressed the need for the company to educate the artisans and mechanics that influence the purchase of lubricants to enhance sales.

Reviewing its 2015 performance, the Chairman of the company, Momar Nguer explained that posted a turnover of N208 billion, representing 13.5 per cent reduction from N240.6 billion recorded in the corresponding period in 2014.

The company’s profit after tax stood at N4.05 billion, compared to N5.3 billion achieved in the previous year.

He explained that the company, during the period under review, invested heavily in its network with the affiliation of 29 new stations, while several stations were reopened after reconstruction.

He added that the 200th station under the new T-Air image was completed in 2015, even as 29 new shops were opened.

“For optimization of our depot and plants, we have successfully completed the LPG sphere upgrade in Apapa, including all invariants, we are finishing the construction of a new ATK tank in Apapa and a new high speed filling machine has been installed at the Lagos blending plant to enhance our efficiency and increase lubricants production.

“Following the success of the launch of the first ever-solar station at Onigbagbo Lagos in June 2014, 8 solar stations are currently being deployed. Our recently launched solar lamps business line is growing steadily. Last year I informed you that we would be introducing our offer of solar Home system (SHS).

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