Conoil Plc has proposed a dividend of N2 per ordinary share for the 2025 financial year, setting aside a cash return for shareholders as the oil marketing company prepares to seek approval for the payout at its 56th Annual General Meeting scheduled for December 18, 2026.
The proposed distribution, disclosed in the company’s notice of annual general meeting on November 11, represents the Board’s recommendation to return earnings to investors, with payment scheduled for December 29, subject to shareholders’ approval.
According to the notice, the dividend will be paid electronically to shareholders whose names appear on the company’s register of members as at the close of business on December 4, 2026, provided they have completed their e-dividend mandate registration and authorised the registrar to pay directly into their bank accounts.
The proposed payment places shareholder returns at the centre of the company’s upcoming annual meeting, where members will consider the 2025 financial statements and other corporate governance resolutions.
Conoil has fixed December 18 for its 56th AGM at CEEDAPEG Hotels, Uyo, Akwa Ibom State, where shareholders will be asked to approve the dividend alongside the company’s annual financial statements and other ordinary business.
The register of members and transfer books will close from December 7 to December 11, both dates inclusive, to facilitate the preparation and payment of the proposed distribution.
The December 4 qualification date means investors seeking to participate in the payout must ensure their names are reflected on the company’s register by the close of business on that date.
The company also emphasised the importance of electronic dividend registration, advising shareholders to provide their bank account and Central Securities Clearing System details to the registrar to facilitate timely receipt of payments.
The notice further disclosed that some dividend warrants remain unclaimed, including payments returned to the registrar and others that have neither been presented to banks nor submitted for revalidation.
Affected shareholders were advised to contact Meristem Registrars Limited to resolve outstanding claims, while investors yet to register for electronic dividend payments were encouraged to use the Securities and Exchange Commission’s unclaimed dividend retrieval process.
Beyond the dividend proposal, shareholders will also consider the ratification of two director appointments, the re-election of retiring directors and the appointment of G.E. Osagie & Co. as the company’s auditors.
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