March 24 (Lagos) - 11 Plc (
MOBIL ) announced 2018 full year results and will pay dividend of N 8.25 per unit to its shareholders as on May 2 2019. Dividend will be paid on May 17.
The shares closed at N 170 per unit on Friday. There has not been much change in price of this stock for more than a year as its been range bound.
Revenue for 2018 full year grew by 31% to N 165 billion. Profit after tax grew by 24% to N 9.32 billion in 2018.
Earnings per share was N 25.87 per unit. So dividend payout of under 32% is something that shareholders will not be very happy about because they are not seeing much share price appreciation.
This company was taken over by NIPCO in 2016 when exxon-mobil divested from downstream business in Nigeria. If you look into the dividend payout ratio of exxon-mobil it is well above 50% in USA.
reporting for easykobo.com on Friday, March 24 2019 from Lagos, Nigeria