The Board of Directors of Total Nigeria Plc in a recent meeting held on the 19th of July 2021, has declared an interim dividend of N4.00 per ordinary share of 50 kobo for the period ended June 30, 2021.
According to a notice signed by the company secretary, Bunmi Popoola-Mordi and filed with the Nigerian Exchange Group Limited (NGX), the dividend will be paid on the 13th of September, 2021, to all qualified shareholders whose names appear on the Register of Members as at 13th of August, 2021. Other qualifying conditions include;
- The completion of the e-dividend registration
- The authorization of the Registrar (CardinalStone Registrars Limited) to pay the dividends directly into the respective shareholder’s bank account
In light of the above, the Register of Shareholders will be closed from Monday, August 16, 2021, to Friday, August 20, 2021. Similarly, the energy giants scheduled its qualification date for August 13, 2021.
Compared to last year, the recent dividend declaration is a major boost to shareholders and an indication that the firm has returned back to the profit path. Recall that in the comparable period of last year, the firm did not declare any interim dividend due to its unfavourable financial standing at that time.
Drivers:
Total Nigeria Plc reported an impressive result in the 2021 half-year period. The firm’s revenue in the aforementioned period stood at N151.3 billion against N106.7 billion recorded in the corresponding period of 2020, indicating an increase of about 42% Year-on-Year.
Similarly, the firm reported a profit after tax of N8.07 billion in June 2021 as against a loss of N537.19 million incurred in June 2020, indicating a surge of about 1,601% Year-on-Year. Other key financial metrics such as Earnings per Share, Dividend per Share, etc., all recorded a massive boost.
What you should know:
A dividend is a payment made by a company to its shareholders, usually as a distribution of profits. When a company earns a profit or surplus, it reinvests a portion of the profit in the business (retained earnings) whilst paying a portion as dividends to the shareholders.
The distribution to shareholders may either be in cash (usually a deposit into their bank accounts) or in the issuance of further shares.
Total Nigeria Plc is expected to pay the interim dividend of N4.00 on all the outstanding 339,521,837 ordinary shares of the company.
As at the time of reporting this, Total Nigeria Plc shares trade N184.8/unit on the floor of The Exchange, up by 10%.
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