Total Nigeria Plc has declared a profit of N14.8 billion for the 2016 financial year, ended 31st December 2016, a 266 percent rise from N4.05 billion in 2015.
As such, the oil firm has proposed a dividend of N5.8 billion or N7 per every 50 kobo of shares held by investors as final dividend for the 2016 financial year. A payment of N10.00 as interim dividend was earlier paid during the year.
The qualification date for the proposed dividend is 14th April 2017 after which the closure of company’s register scheduled for 17th – 21st April 2017.
The result showed that Total increased its revenue by 40 percent to N290.95 billion from N208.02 billion. Profit Before Tax was up by 213.6 percent to settle at N20.4 billion from N6.5 billion declared in 2015.
The oil company’s tax for the year shot up by 133 percent to N5.6 billion. Shareholders fund increased 45 percent to N23.6 billion and Total Assets settled at 136.9 billion from 83.7 billion, posting a significant growth of 63.7 percent.