By Yakubu LAAH investadvocate

Oct 29 2010 15.20 GMT

Lagos (INVESTADVOCATE)-Oil Giants, Total Nigeria Plc (TOTAL) has notified the Nigerian Stock exchange (NSE) that its Board of Directors (BOD) would be meeting to consider the declaration of an interim dividend for shareholders of the company.

 

This was contained in a notice of meeting made available to the Stock Exchange Friday October 29 2010 in Lagos Nigeria.

 

Apart from the consideration to declare an interim dividend, the Directors would also fix a period for closure of register of members and transfer of books for the purpose of payment of the interim dividend.

 

TOTAL had in its 2009 Financial Year declared an interim dividend of N3.40 and a final dividend of N8.28 for 2009 Financial Year End.

 

For the Third Quarter (Q3) Unaudited result for the period ended September 2010, Turnover of the company declined from N131.090 billion in Q3 of year 2009 to N121.995 billion in year 2010; indicating a decline of -6.93 percent (-6.93%) in the review period.

 

Profit After Tax (PAT) rose from N2.922 billion in Q3 of 2009 to N4.195 billion in the corresponding period of year 2009; showing a rise of 43.56%.

 

While Profit Before Tax (PBT) also increased from N4.544 billion in Q3 of year 2009 to N5.887 billion in the Unaudited Q3 result for the period ended September 30 2010.

 

Also, the Oil Giant had projected a N12.96 for its 2010 year end compared to N11.68 final dividend paid in year 2009; indicating a projected increase of 11.24 percent (11.24%) for the period in view.

 

Meanwhile TOTAL’s forecast for the Year Ended October-December 2010 as obtained from the NSE; shows that the Oil Giant had projected a Turnover of N37.770 billion, a PBT of N1.157 billion and PAT of N717.955 million in the period under preview.

 

However, Directors of the company are to meet on Tuesday, October 16, 2010 at Total House 4, Afribank Street, Victoria Island, Lagos Nigeria.