Big Profits, Big Payouts: TotalEnergies Rakes in N635bn, Declares N7.1bn Dividend Windfall
French energy giant TotalEnergies reported a strong performance in Nigeria for 2023, announcing a whopping N635 billion in revenue. This impressive figure translates to a significant windfall for shareholders, with the company declaring an N7.129 billion dividend payout.
Chairman of TotalEnergies, Jean-Philippe Torres, who declared this at the 44th Annual General Meeting of the company in Lagos, maintained that TotalEnergies Marketing increased her turnover by 32 percent from N482.47 billion in 2022 to N635.95 for the year ended December 31, 2023.
The Board, he added, “proposes for approval by shareholders that the sum of N8.49 billion representing N25.00 (Twenty-five Naira only) per share be distributed as full and final dividend for the year 2023 subject to the deduction of appropriate withholding taxes at the time of payment.
“In line with our Corporate reputation for early disbursement of shareholders’ dividends, we are delighted to confirm to you that if approved at this meeting, your dividends will be paid on the 17th of June, 2024.”
TotalEnergies Marketing Nigeria Plc was incorporated in 1956 and was listed on the Nigerian Exchange in 1979. TotalEnergies’ first petrol station was commissioned at Herbert Macaulay Street, Yaba, Lagos in 1956.
Today, TotalEnergies has over 500 service stations, 2 lubricants blending plants, 2 petroleum product depots, 1 bitumen depot, holdings in 5 aviation depots, and other facilities spread across the country.
TotalEnergies S.E. which holds 62 percent of TotalEnergies Marketing Nigeria Plc is a publicly-traded oil company that produces and markets fuels, natural gas, and electricity. Active in more than 130 countries with over 100,000 employees.
