Payment of N5.1bn in Dividends by Oando Plc

Payment of N5.1bn in Dividends by Oando Plc

Oando Plc,announced it had concluded the payment of N5.1 billion dividend to shareholders for the year ended December 31, 2012.
The company had posted a profit after tax of N10.9 billion for the year, out of which the board recommended N5.1 billion as dividend that translated into 75 kobo per share. The shareholders of Oando approved the dividend at their last annual general meeting in July while payment commenced in August.
Group Chief Executive of Oando, Mr. Wale Tinubu commented, “The centrepiece of our overall growth strategy remains focused on steady and progressive value creation for our shareholders. With a business such as ours that guarantees steady returns on investments, we are positioning ourselves to ensure that our shareholders continue to enjoy an exemplary dividend pay-out year after year.”
Oando Plc, is a leading integrated energy group listed on the Nigerian Stock Exchange (NSE) and Johannesburg Stock Exchange (JSE)
Oil and Gas Press

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