News Column

Shareholders Approve Total's N3.4 Billion Dividend

June 16, 2014

Bamidele Ogunwusi

Shareholders of Total Nigeria, at the weekend approved the payment of N3.395 billion dividend of N11.00 per share as proposed by the board. The company paid a final dividend of N9.00, after an interim payout of N2.00 earlier during the financial year.

The board also used the opportunity to unveil plans to further expand its scope nationwide.

Reacting, shareholders at the meeting unanimously recognised the efforts of the company at ensuring that it remained in business despite the fact that the company with its capacity and market share is under utilised by government in the fuel importation regime.

Sunny Nwosu, a shareholder activist, urged the company to continue its policy of paying quality dividend and enjoined the management to keep the pace by paying improved dividend next year.

Another shareholder, Kehinde Samuel, called on the management to put more efforts at the production of its new line of product, the solar power lamp called awango.

Chairman of the company, Momar Nguer, a Senegalese, said the company, despite impediments, is optimistic of continuing to operate in the country.

He said over the years the company has built leadership in the sector, owing to sustained investments, and a strong asset base across the country, including three first class fuel storage facilities, three lubricants blending plants, five LPG filling centres and more than 550 services stations nationwide.

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Source: AllAfrica

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