Totalenergies Shareholders Okay N21.00 Final Dividend Payout

Kayode Tokede

The shareholders of Totalenergies Marketing Nigeria Plc, yesterday approved the company’s N21.00 per share final dividend payout, stressing the sustained dividend payout despite challenges in cost of sales and finance costs.

The management had paid shareholders an interim dividend of N4.00 per share and the board proposed a final dividend of N21.00 for the financial year ended December 31, 2022 as against N18.00 paid to shareholders in the corresponding financial year ended December 31, 2021.

The approved dividend brings Totalenergies Marketing Nigeria’s 2022 dividend payout to N25.00 per 50kobo share as against N21.00 per 50 kobo share paid in 2021 financial year.

The President, Pragmatic Shareholders Association, Mrs. Bisi Bakare, at the company’s 45th Annual General Meeting (AGM) in Lagos, expressed satisfaction with the company’s 2022 performance, disclosing that Totalenergies Marketing Nigeria over the last five-year has maintained trajectory growth in assets, revenue and dividend payout to shareholders.

Speaking to shareholders, the Chairman, Totalenergies Marketing Nigeria, Jean-Philippe Torres, said the company in 2022 continued to grow stronger in the non-fuel business by turning service stations into social hubs that attract more customers for services and goods beyond energy solutions.

He further said: “Your company has continued to grow its market share in lubricants rising to 15 per cent. Because of the global upward price of lubricant input materials and the devaluation of the Naira, lubricant prices were adjusted in 2022.  Totalenergies Marketing Nigeria also concluded the installation of its end-of-line automated machines which would support to increase production output of small pack lubricants (1-5litres) by about 30 per cent.”

According to him, 2022 was indeed a challenging year locally and internationally, yet the company increased its turnover by 41 per cent from N341billion in 2021 to N482billion in 2022.

“However, due to rising cost, profit before tax decreased by four per cent from N16.8billion in 2021 to N16.1billion in 2022. In the face of the aforementioned and other difficulties, it is a laudable achievement,” he said.

Looking ahead, he explained, saying,, “We will focus on building a robust portfolio of renewable energy assets by capitalising on our presence in Nigeria to develop and serve this market, supplying people with the energy they require while meeting the challenges of climate change, fostering sustainability, ensuring safety, and focusing on customer centricity.”

He reiterated that Totalenergies Marketing Nigeria’s ambition was to become a responsible energy major and a world-class player in sustainable energy.

“This is where we will continue to focus our efforts,” he said.