Total Energies shareholders approve N13.6bn dividend

SHAREHOLDERS of Total Energies Marketing Nigeria Plc have unanimously approved a total sum of N13.6 billion dividend, representing N40.0 per share as full and final dividend for the year 2024.

The approved dividend is subject to the deduction of appropriate withholding taxes at the time of payment.

Speaking at the 47th Annual General Meeting (AGM) of Total Energies in Lagos on Friday, the Chairman of the company, Mr Jean-Phillipe Torres noted that keeping up in line with the corporate reputation for early disbursement of shareholders dividends, the dividend will be paid on the day of approval (May 16).

Sir Sunny Nwosu, a shareholder applauded the management for the dividend declared, noting that shareholders are pleased with the team’s unrelenting efforts for the past 100 years. He, however, urged the company to look into giving bonuses.

Also Godfrey Uche, the National Coordinator of Youth Alliance Shareholders Association, commended the board for the dividend declared, while applauding the company for their CSR initiatives which cuts across all sectors.

The Chairman, in his comments, earlier, noted that in maintaining the company’s leadership position in the downstream oil and gas sector, the nationwide network of stations continued to serve and empower communities and businessses.

“Our exceptional customer service was amplified during the year’s Africa Customer Service Week, with the theme “Supporting You Everywhere, Every Time, All Across the Continent”, he said.

“Your company has continued to demonstrate trust and confidence in the country with our continuous investment in the business with the completion of 251 solarize stations, 15 T-Air Projects, 10 Mobility Shops and 8 new QAS bays, all of which have greatly enhanced the appearance and functionality of our service stations,” he added.

Torres noted that during the year, the company successfully completed the Compliance Peddling Risk Mapping exercise. “This accomplishment reaffirms our company’s commitment to addressing risk and ensuring integrity. Irrespective of the challenges posed by unfavorable economic situation in the country, the management team worked diligently to manage our working capital requirements professionally this enable your company to delivered exceptional products and services for 68 years continuously, always upholding the highest ethical standards,” he said.

Looking into the future, Torres noted that the Nigerian petroleum outlook for 2025 shows possible stability after multiple reforms.

“However, we are mindful of the current supply situation which has been impactful on our business and may continue in 2025 and onwards.”

“As we look forward to the future, our focus is clear: to increase our market share, invest and expand our influence across the downstream sector and maintain our competitiveness through the affiliation of new stations, expansion of the SFS business opportunities and redefined training of staff to improve customer experience, leveraging on our past achievements and experiences as a foundation to reach even greater remarkable future, he said.

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