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Conoil to pay shareholders 250k/share dividend

Conoil Plc, Nigerian a petroleum exploration and production company, on Monday announced a final dividend of 250 kobo per share for the year ended on…

Conoil Plc, Nigerian a petroleum exploration and production company, on Monday announced a final dividend of 250 kobo per share for the year ended on December 31, 2021.

The payment of the dividend will be made on Friday, 4th November 2022. It will take a retroactive effect, as it is payable to shareholders whose names appeared in the register of members at the close of business on Monday, 30th May, 2022.

The announcement did not cause any change in the price of the stock, as it closed unchanged at the same price of N26.50, where it closed on Friday, September 23.

Based on the closing price of N26.50, the dividend translates to a yield of 9.4 per cent.

The market closed on a positive note, with the All-Share Index rising by 0.39%, the highest single-day gain in the month, according to Coronation Research, to close at 49,218.35 points.

The market’s year-to-date (YTD) return climbed to 15.22%, while market capitalization gained N103.42 billion to close at N26.55 trillion.

Among stocks that led in price gain were BUA CEMENT, Zenith Bank, and GTCO, which rose by 5.43%, 0.25%, and 1.89%, respectively.