Okomu Oil Declares N18.50k Dividends for Shareholders.
At its AGM held at Transcorp Hilton Abuja, Okomu Oil declared dividends of N18.50k per share, the highest in its history. The company reported a 36% increase in total turnover to N95 billion for the 12-month period and a 27.21% growth in profit after tax to N20.65 billion in the 2023 financial year. Earnings per share stood at N21.64, with a P/E ratio of 11.23x and earnings yield of 8.91% at a share price of N243. The shareholders also re-elected board members and elected Chief Osaru Ida as a new director representing the Edo state government. Chairman Gbenga Oyebode highlighted the company’s success, attributing it to increased volumes, expansion of plantation acreage, and support for local communities.
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