Oil and gas downstream players, 11Plc (formerly Mobil Oil Nigeria Plc), has announced a dividend payment of N3.06bn for the 2020 financial year as approved by their shareholders on Friday at Abuja at the 43rd Annual General Meeting of the company.
Assuring shareholders of their dedication to constant growth on their ROI, the company declared that every shareholder would be paid a final dividend of 850 kobo (N8.50k) per ordinary share of 50k.
Mr Ramesh Kansagra, Chairman 11Plc, while delivering his goodwill message to the shareholders, emphasized that “the business sustainability and diversification strategy being pursued by downstream major provided a solid base for the company to continue to grow and thrive amid challenging business environments.”
The Managing Director, Mr Tunji Oyebanji, equally assured the shareholders of the management’s resolve and commitment to constantly grow the company’s profits, drawing from its investment in Liquefied Natural Gas (LNG) plant and the hospitality industry.
For Mr. Chris-Olumayowa Meseko, the Company Secretary, there is an expressed optimism regarding business growth irrespective of 11Plc emulating the parent company, NIPCO, to voluntarily delist from the Nigerian Exchange Limited (NGX).
He reminded investors that the shares of the company can be traded through SEC-registered stockbrokers on the NASD platform.
Azuka Edokobi is a Writer , a Farmer, a Supply Chain Expert and an Entrepreneur
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