Presco posts N15.7bn turnover, proposes N1.5bn dividend

Please follow and like us:

  • 0
  • Share

Alexander Okere, Benin

The management of Presco Oil Plc on Wednesday  announced a turnover of N15.7bn for the year ending December 31, 2016, with a profit after tax of N21.735bn, after accounting for changes in fair value of biological assets.

It also had the payment of the sum of N1.5bn proposed by the management and approved by its shareholders as dividend for the year under review.

The Chairman of the company, Mr. Pierre Vandebeeck, who spoke during the firm’s 24th Annual General Meeting in Benin, Edo State, said that the dividend also translated to 150 kobo per share, subject to withholding tax at the appropriate rate.

Vandebeek said that the company’s dividend increased by 50 per cent, while the turnover for the year was an improvement from the N10.4bn recorded in 2015.

Copyright PUNCH.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

Contact: editor@punchng.com

 

 

 

Facebook Comments

Please follow and like us:

  • 0
  • Share

Leave a Reply

Your email address will not be published. Required fields are marked *