By investadvocate

Lagos (INVESTADVOCATE)-Mobil Oil Nigeria Plc, operating in the Petroleum Marketing Sector of the Nigerian Stock Exchange (NSE) has increased its dividend payout to investors of the Company by 37.14 percent (37.14%) in the Audited Year Ended December 2010.

This was contained in the Result Announcement Friday 08 2011 by the Firm to the Nigeria’s Exchange and made available to investavocate in Lagos Nigeria.

To record the increase, Mobil has proposed to reward investors of the Company with a N9.60 Kobo dividend payment for year 2010 end when compared to N7.00 it paid in year 2009 end.

A critical look at the Audited Year Ended December 2010 Result of the Company; shows a decline in Turnover by 5.94%.

Mobile recorded a Turnover of N85.343 billion in year 2010 end compared to N62.032 billion in the same period in year 2009.

Its Profit After Tax (PAT) however, grew from N2.841 billion in year 2009 end to N3.885 billion in year 2010 end; indicating a growth of 36.74% in the review period.

While Profit Before Tax (PBT) also rose from N4.066 billion in year 2009 to N5.721 in the Audited Year Ended December 2010; representing a rise of 40.70%.

However, the Firm has put the closure date for shareholders who would benefit from the dividend payout between April 29 to May 02 2011.