Shareholders laud Total’s N3.1 billion dividend

For increasing shareholders value on investment through robust dividend payout and adherence to corporate governance principles, shareholders’ of Total Plc, yesterday commended the company’s board on its performance, as they approve a final dividend of N3.1 billion for the 2014 financial year.
  
The company had earlier paid an interim dividend of N2.00 , and a final dividend of N9.00  yesterday, making  a total dividend of N11.00 per share for the year 2014.
  
Speaking during the company’s 37th yearly general meeting, held in Lagos yesterday, the National Secretary, Independent Shareholders Association of Nigeria, Adebayo Adeleke applauded the company for sustaining its profitability, amid harsh economic environment.
 
Adeleke explained that the company needed to invest more on the solar energy business in order to reduce over dependence on diesel in the country.

He pointed out that more investment in that area would also have a positive impact on the production cost of the product.

“They should continue the solar powered business because definitely, it would reduce dependence on diesel and electricity. They should also prepare ahead for complete deregulation so that once the industry is deregulated, there would be no crises and they will flood the market with product.”

The President, Constance Shareholders Association, Shehu Balle Magali  also commended the management for improved performance in 2014 financial year.

Magali urged the management to intensify efforts in the marketing of its solar products to enable it attain a leadership position in the market.

The Chairman of the company,  Monar Nguer explained that the company has concluded plans to increase the number of its solar powered stations this year by eight additional stations, as part of efforts to consolidate on the performance.

“The Solar Home System is a solar power driven energy solution for homes. In the course of the year, we will be seeking to align our business and structures with the dictates of the environment we operates.

He explained that as part of efforts to reduce accidents on the high way, the company has commenced the construction of a Track Centre, which, according to him would be a complementary facility to the Total Truck Driving School in Ibadan.

He added that the centre was established to increase the driving knowledge and skills of the Nigerian truck drivers.

“Since the establishment of the school in 2011, the Total Drivers’ s accident rate has reduced by over 60 per cent.”