Conoil shareholders set for juicy 2022 dividends
Shareholders of Conoil Plc have given their approval to a final dividend payout of N1.734 billion ($2.1 million), as proposed by the company's board of directors for the 2022 financial year. This dividend, which received unanimous support from shareholders during the company's 53rd Annual General Meeting held in Uyo, Akwa Ibom State over the weekend, translates to N2.50 per share.
Speaking to shareholders during the AGM, Dr. Mike Adenuga (Jnr), the Chairman of Conoil Plc, expressed the company's unwavering commitment to creating significant value for its shareholders. He also emphasized the company's dedication to ensuring that its share price continues to ascend.
Looking forward, Dr. Adenuga acknowledged the potential challenges arising from the rapidly changing geopolitical and socio-economic landscape. Nonetheless, he affirmed that Conoil would remain focused on the strategies that have consistently yielded the highest dividends for the company.
Key Takeaways
Dividend stocks represent a compelling investment choice for those aiming to generate passive income. These stocks offer a consistent source of earnings in the form of dividends, making them a dependable income stream for investors. Their track record of delivering steady returns adds to their appeal as a secure investment option. Investing in dividend stocks contributes to portfolio diversification and risk reduction, adding stability to long-term investment strategies. Moreover, many dividend-paying stocks possess growth potential, offering investors the possibility of capital appreciation alongside their regular income. Another noteworthy advantage of dividend stocks is their ability to serve as a hedge against inflation. Since dividend payments typically increase over time, they provide a means of safeguarding against the erosion of purchasing power caused by rising prices. Additionally, dividends often enjoy more favorable tax treatment compared to other income sources, making them a tax-efficient investment option.
Think someone else should see this?
To invest in this opportunity and other opportunities across Africa
Download the daba finance app on your mobile through
Take action.
Download app
Start investing in Africa’s best opportunities, including stocks, bonds, startups, venture funds, and more.
Partner with us
Unlock exciting business opportunities and growth potential.
Join Daba
Become a part of our vibrant community and enjoy exclusive benefits.
Contact us
Reach out to us for inquiries, support, or collaboration.