Conoil proposes 150 Kobo dividend to shareholders for year 2009


By Peter OBIORA investadvocate

Sept 13, 2010 22:01 GMT



Lagos–Conoil Plc (CONOIL) has proposed to offer 150 Kobo dividend payout to shareholders of the company for year 2009 Financial Year End (FYE).



This was contained in the Petroleum Marketing company’s Audited Year Ended (December) 2009 released Monday September 13 2010 at the Floor of the Nigerian Stock Exchange (NSE) in Lagos Nigeria.



The Company in the Result Announcement affirmed that payment date is November 02 2010 and only investors whose name appear before the closure date for the period October 04 to October 08 year 2010 would benefit from the dividend offer.



However, no date has been scheduled for the company’s Annual General Meeting (AGM).



In the Profit and Loss Information of the Conoil, Profit After Tax (PAT) increased from N1.821 Billion in year 2008 to N2.312 billion in the Audited Year Ended (December) 2009; indicating an increase of 27 percent (27%) in the review period.



While Conoil recorded a Profit Before Tax (PBT) of N3.784 billion in year 2009 compared to N3.282 billion in the 2008 FYE showing an increase of 16 percent (16%).



However, Turnover declined from N124.213 billion in year 2008 to N101.853 billion in year 2009 representing a decline of 18 percent (18%) in the period under review.




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