By investadvocate

Lagos (investadvocate)-Petroleum Marketing Giants, Oando Plc has offered investors of the Company a N3.00 dividend and 1 for 4 bonus shares for the period ended December 31 2010.

The Company in a notice to the Stock Exchange dated April 01 2011 affirmed that closure date for the Register of investors of the Company in the review period is between 03 to 06 May 2011; while payment date is Wednesday 31 August 2011.

The Annual General Meeting (AGM) of Company has been scheduled for Thursday May 12 2011 at City Hall Catholic Mission Street in Lagos Nigeria.

Its Audited Report for the period Ended December 31 2010 shows that Profit After Tax (PAT) of the Petroleum Marketing Firm rose from N10.096 billion in year 2009 to N14.374 billion in year 2010 end; indicating a rise of 42.37%.

While Profit Before Tax (PBT) also increased from N13.512 billion in year 2009 to N23.882 billion in for the period ended December 31 2010 representing an increase of 76.75%.

Gross Earnings of Oando Plc grew from N336.859 million in year 2009 to N378.930 million in year 2010; showing a growth of 12.49% in the review period.

Meanwhile, On Tuesday March 01 2011, the Council of the Nigerian Stock Exchange (NSE) approved Oando Petroleum Marketing Plc’s offer for Sale of 171.500 million ordinary Shares of 50 kobo each at a price to be determined through Book Building.

A total of 137.200 million Ordinary Shares of 50 kobo each (representing 80 per cent) of the total will be offered to Qualified Institutional and High Networth Investors, while 34.300 million shares (representing 20 per cent) Ordinary Shares of 50 kobo each will be offered to retail investors at the price determined by the Book Building.