Conoil to Pay a Total of N1.388 Billion as Dividend for 2019 FY

Conoil Plc has declared a dividend of 200 kobo per share amounting to N1,387,904,234 (One Billion, Three Hundred and Eighty-Seven Million, Nine Hundred and Four Thousand, Two Hundred and Thirty-four Naira) for the period ended December 31st, 2019.

In a statement released through the Nigerian Stock Exchange (NSE), the company said the dividend is payable to shareholders registered in the company’s books as at the close of business on Monday, 13 of July 2020.

The statement noted that the board of Conoil unanimously adopted the proposed resolution for dividend and also adopted the Report of the Directors and the Statement of Financial Position as of 31 December 2019 at the Annual General Meeting held on Friday, October 2020.

The statement partly reads: “The Annual General Meeting adopted unanimously the proposed resolution that a dividend of 200 Kobo per share amounting to N1,387,904,234 (One Billion, Three Hundred and Eighty-Seven Million, Nine Hundred and Four Thousand, Two Hundred and Thirty-four Naira) in respect of and out of the profit for the year ended 31st December 2019 be declared payable to the shareholders registered in the company’s books as at the close of business on Monday, 13th of July 2020 subject to the deduction of the statutory Withholding Tax of 10%.”