Totalenergies Marketing Nigeria Plc said it has paid a total dividend of N8.49 billion to its shareholders for the 2022 financial year.
This was disclosed yesterday at its 45th Annual General Meeting held in Lagos.
The company had earlier distributed the sum of N1.36bn as interim dividends, representing N4.00 per share for the year ended December 31, 2022. Shareholders Friday approved the sum of N7.13bn representing another N21.00 per ordinary share of 50 kobo each to be paid as the final dividend for 2022 subject to the deduction of appropriate withholding taxes at the time of payment.
The chairman of the company, Jean-Phillipe Torres, who presented the financial statements to the shareholders, noted that despite global socioeconomic challenges, Totalenergies increased her turnover by 41 percent from N341bn in 2021 to N482bn in 2022.
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He, however, added that due to rising costs, profit after tax decreased by 4 percent from N16.8bn to N16.1bn.
While lamenting that Nigeria was unable to benefit from the rise in crude oil because it couldn’t meet its Organisation of Petroleum Exporting Countries, OPEC allocation due to massive crude oil theft and pipeline vandalism, he stressed that Totalenergies maintained the lead in its network by evolving its products and services beyond access to energy solutions.
Torres, who noted that the company grew its market share in lubricants by 15 percent, said its commitment to renewable energy is unwavering.
Shareholders who spoke at the AGM lauded the board, management and staff of the company for recording impressive results despite the economic challenges as well as the zero accidents recorded within and outside its perimeter in 2022.
They also ratified the appointment of Mrs Olubunmi Popoola-Mordi as a director in the company.