Total Nigeria Says 2017 Pretax Profit Down 42.0%, Offers Investors N14.00 per Share Dividend

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By InvestAdvocate

Lagos (INVESTADVOCATE)-Oil marketing major, Total Nigeria Plc on Friday said its pretax profit for the period ended December 31, 2017 slumped 42.0 percent to N11.79 billion from N20.35 billion recorded a year earlier.

Also, post-tax profit for the period dipped 45.8 percent to N8.01 billion from N14.79 billion declared in the 2016 financial year end (FYE).

Total Nigeria said revenue of the company depreciated from N290.95 billion in 2016 end to N288.06 billion in the review period of 2017; indicating a marginal decline in revenue of 1.0 percent, the oil marketer said in a filing with the Nigerian Stock Exchange (NSE).

Meanwhile, the company has proposed a dividend of N14.00 per share to its shareholders, compared to N7.00 paid in the previous year.

In its corporate action to the NSE, Total Nigeria said qualification date is March 16, 2018; while closure date is 19-23 March, 2018. Annual General Meeting (AGM) and payment dates has been scheduled for June 21 and 22, 2018 respectively.