By Peter OBIORA investadvocate

Sept 20 2010 16.48 GMT

 

 

Lagos–Conoil Plc (Conoil) operating in the Petroleum Marketing sector of the Nigerian Stock Exchange (NSE) has  increased its dividend payout to investors of the company by 50 percent (50%) in its Audited Year Ended (December) 2009.

 

 

This was contained in the NSE’s Result Announcement Monday September 20 2010 and made available to investadvocate in Lagos Nigeria

 

 

To record this feat, the company increased its dividend from N1.00 100 (Kobo) in its year 2008 Financial Year End (FYE) to N1.50 Kobo (150 kobo) in year 2009; indicating an increase of 50% in the review period.

 

 

The Company in its Corporate Actions affirmed that closure date for shareholders who would benefit from the dividend payout is October 04 to 08 2010 and payment date would be November 02 2010 after the company’s Annual General Meeting (AGM) scheduled for October 22 2010 at the Premier Hotel Ibadan Nigeria.

 

 

However, this dividend payment is subject to the Boards approval at the AGM.