Financial Energy Review
……..by Abisoye Shola……….
The Board of Conoil Plc is to pay about N1.2 billion dividend to shareholders. The downstream oil company has adopted unanimously the proposed resolution that a dividend of 200 Kobo per share, amounting to N1.388 billion be declared payable to the shareholders.
This disclosure was made at the Annual General Meeting on Friday, 23rd October 2020 by the company in a statement which was issued and signed by the company’s secretary, Conrad Eberemu.
“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 percent.” he said.
The Board of Directors at Conoil plc resolved that the dividend of 200 kobo will be declared payable to the shareholders registered in the company’s books as at the close of business on Monday, 13th of July 2020, and the dividend is subject to the deduction of the statutory Withholding Tax of 10%.
