Oando shareholders to receive N5.1bn dividend


The Group Chief Executive of Oando Plc, Mr. Wale Tinubu has said that the company’s shareholders will receive a dividend of N5.1bn for the year ended December 31, 2012.


A statement from the company yesterday said the dividends, which translate into 75 kobo per share, reflects a yield of 5.7 per cent and would be paid out of the N10.9bn profit after tax of the company.


The company reported N10.9bn profit after tax in 2012, from N1.8bn in 2011, an increase of 526 per cent, while turnover stood at N675.5bn, up by 18 per cent from N573.2 bn in 2011.


According to the result, profit before tax rose by 35 per cent, from N13bn in 2011 to N17.5bn.[National Mirror]