Shareholders of Conoil Plc have approved a total dividend payment of N1.04bn, translating to 150 kobo for every 50 kobo share.
The dividend was approved during the 51st annual general meeting of the company, according to a statement on Friday.
The company promised at the AGM to explore opportunities in the coming years to deliver solid financial results and increase competitive returns on its shares.
It assured its shareholders that conscious efforts would be directed at achieving better execution of value-added products and services, especially in the areas of marketing and customer management.
While noting the challenges ahead, given the current state of the Nigerian economy, Conoil, however, expressed optimism that it would strive hard to maintain profitability.
The Chairman, Conoil Plc, Dr Mike Adenuga Jnr, said in his address during the meeting that the company was fully charged to consolidate its competitiveness in the different segments of its business.
He said it would do this by exploring and developing emerging markets, while holding its grounds in its areas of competitive advantage.
“Our overriding goal is to ensure the continued delivery of excellent services to our customers. The company will grow its earnings, improve profitability and asset quality and deliver competitive returns to our esteemed shareholders,” Adenuga added.
