Shareholders of Total Energies have given accolades to the Board and Management of the company for its consistency in paying dividends as well as the progressive improvements in the financial statement of the company.
Speaking at the 45the Annual General Meeting of Total Energies at the Civic Centre, Lagos on Thursday, shareholders applauded the sum of N7.1 billion final dividend payout, representing N21 per share, in addition to N1.36 billion interim dividend representing N4.0 per share, to bring the total dividend to N25 per ordinary share.
According to Moses Igbrude, the National Coordinator of the Independent Shareholders Association of Nigeria (ISAN), the dividend payout was a delight to the shareholders.
“Total dividends are fantastic dividends. Their dividend payment policy is consistent and robust. Every year, they bring such dividend payments, both interim and final. We shareholders are very happy, particularly about the dividend,” he said.
Also, Bisi Bakare, the President of the Pragmatic Shareholders Association commended the Board and Management of Total Energies while noting that a look into the five-year financial summary of the company indicated that the company is on the pathway of growth with consistent improvement in assets and revenue of the company.
Speaking earlier in his statement, Chairman of Total Energies, Mr Jean-Phillipe Torres, in line with the company’s corporate reputation for early disbursement of shareholders’ dividends, the dividend having received approval from shareholders would be paid on the 2nd of June, 2023.
Speaking on the increase in the dividend payout, Torres noted that the company placed lots of value on its loyal shareholders. “This is the reason why we decided once again to increase the dividend payouts for our shareholders.
He however noted that in order to continue to deliver good performance at the company have to make sure to prepare for the future. “And in order to prepare for the future, obviously we have to continue to invest. So be rest assured that Total Energies Nigeria Plc balances extremely carefully. We balance the dividend payout and the capital expenditure in order to make sure that our shareholders receive a fair return for the investment, and also, that we prepare the future in order to invest in a profitable development of our company.”
Torres, while noting that the year 2022 was indeed a challenging year locally and internationally, yet the company increased its turnover by 41 per cent from N341 billion in 2021 to N482 billion in 2022. “However, due to rising costs, Profit after Tax decreased by 4 per cent from N16.8 billion to N16.1 billion. In the face of the aforementioned and other difficulties it is a laudable achievement,” he said.
He said the company’s commitment to renewable energy was unwavering while noting that by the end of the year, the Company had a combined installed Solar capacity of 6.5MW.
“We commenced a 5MW solar hybrid system in Kano and 3 solar hybrid systems (71Kw) were installed across the country. By the end of the year, 362 service stations had been solarized and over 750,000 solar lamps sold,” Torres said.
Looking ahead, Mr Jean-Phillipe Torres stated that the company would focus on building a robust portfolio of renewable energy assets by capitalizing on its presence in Nigeria to develop and serve the Nigerian market, supplying people with the energy they require while meeting the challenges of climate change, fostering sustainability, ensuring safety and focussing on customer centricity.
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