Conoil Plc has announced N2.00 dividend per 50kobo ordinary shares, for the period ended 31 December 2019.
The proposed dividend is subject to appropriate withholding tax and approval. It will be paid to shareholders whose names appear in the register of members, as at close of business on Monday 13 July 2020.
This was contained in corporate actions announcement signed by the company’s Secretary/Legal Adviser, Conrad Eberemu, dated 8 July 2020.
The qualification date is Monday 13 July 2020, whereas the payment is yet to be announced at the time of this report.
Conoil registrar is Meristerm Registrars and Probate Services Limited.
Conoil share price stood at N21.00 at the close of trading on Wednesday. The share price remained unchanged on Thursday, although it is trading within the range of N19.50 and N20.00 at the time of this report.
At the closing price of N21.00 the dividend yield is 9.52% but at the price range in which it is trading at the moment, the yield will be higher. Note that the dividend yield will be affected by the withholding tax and buy charges.