Business
Total Nigeria Approves N4.75b Dividend
- Total Nigeria Approves N4.75b Dividend
The board of shareholders, Total Nigeria Plc, on Thursday approved the sum of N4.75 billion as final dividend for the financial year ended Dec. 31, 2018.
The shareholders unanimously endorsed the payment at the company’s 41st Annual General Meeting (AGM) held in Lagos.
The amount translated to N14 dividend per share subject to the deduction of appropriate withholding tax.
According to News Agency of Nigeria, the company had earlier distributed N1.02 billion as interim dividends, representing N3 per share.
Mr Sunny Nwosu, Founder, Independent Shareholders Association of Nigeria, commended the company for consistent and improved dividend despite the challenging business environment.
“The company had paid regular dividend in spite of proliferation of taxes, late payment of subsidy and high cost of operation.”