Total Nigeria proposes N1.36bn interim dividend from H1 profit of N8.06bn

Total Nigeria Plc has released its unaudited financial statement for the half-year (H1) period ended June 30, 2021. The company’s half-year scorecard on the Nigerian Exchange Limited (NGX) shows revenue increased by 42percent to N151.333billion, from H1’2020 low of N106.704billion.

Profit before minimum and income taxation for the review period increased to N11.778billion in H1’21, from N523.89million in H1’20, up by 2,348percent. Total Nigeria Plc closed the half year (H1) 2021 with a profit after taxation (PAT) of N8.065billion as against N537.188million in H1’2020, up by 1,601percent.

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Following the impressive outing by Total Nigeria in H1’21, it proposes to pay interim dividend of N4 per 50 kobo ordinary share, subject to appropriate withholding tax and approval. Total share price trades at N168 as at Thursday July 22. The company’s shares outstanding are 339,521,837 units.

Total Nigeria Plc’s N4 interim dividend (about N1.36billion) will be paid to shareholders whose names appear in the Register of Members as at the close of business on August 13, 2021, according to the corporate action announcement signed by Bunmi Popoola-Mordi, Company Secretary, Total Nigeria Plc.

Total Nigeria Plc is a subsidiary of Total Marketing Services (the Parent Company) in France and operates in the petroleum marketing and distribution business in Nigeria. The principal activity of the Company is the blending of lubricants, sales and marketing of refined petroleum products and solar products.

Total Marketing Services which holds 209,560,000 units (representing 61.72percent) of Total Nigeria Plc shares will receive interim dividend valued at N838.24million while other shareholders who account for 129,962,000 units or 38.2 percent of the shares outstanding will be paid interim dividend valued at N519.84million. Total Nigeria Plc shares have outperformed the market this year, yielding positive return 29.2percent year-to-date (YtD).

The register of shareholders of Total Nigeria Plc will be closed from Monday August 16, 2021 to Friday August 20, 2021. The qualification date is August 13, 2021 while payment date will be on September 13, 2021.

The N4 interim dividends will be paid electronically to shareholders whose names appear on the Register of Members as at August 13, 2021 and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.