Skip to main content

NDEP declares dividend at 25th AGM

NDEP declares dividend at 25th AGM
NDEP
Stockmarket

Shareholders of Niger Delta Exploration & Production Plc (NDEP), at the 25th  Annual General Meeting (AGM) last week, unanimously approved a dividend of N17 per share, the Company’s highest in its 13th  year of consistent dividend payment.

Speaking at the event, which held virtually in line with the COVID-19 protocol, the company’s Chairman, Mr Ladi Jadesinmi, said the company would record further significant achievements in the next 10 years and assured rewards for shareholders.

The interim Chief Executive, Dr. ‘Layi Fatona, reassured shareholders of the strong positioning of the Company,    adding that “NDEP is on a solid growth track and    is well-positioned to weather the current challenges of the operating environment” including a low oil price regime, reduced OPEC production quotas and the uncertainties surrounding COVID-19 pandemic.

READ ALSO:COVID-19: 74.2% of businesses have stopped operating, NECA raises alarm

Highlights of the Company’s Financial performances include its revenue growth of 16%, from N39 billion to N46 billion, the highest in the past decade due to its strong asset quality and operational processes.

It recorded a profit of N9.0 billion from its associate, ND Western Ltd,    while its Crude Oil revenue rose to N38.3 billion as against  ¦ 29.4 billion in 2018, a 24% year-on-year improvement resulting from an increase in production despite the market’s price volatility.

The Company also had a lot of positives in its Operational highlights for the 2019 financial year, recording 10MM Man-hours with no Loss Time Injury (LTI), despite a significant increase in activity levels,  while average daily production at its Ogbele Field increased to a record 7,500 bbls/d, during the year.

Vanguard

 

The post NDEP declares dividend at 25th AGM appeared first on Vanguard News.


https://ift.tt/2Zhckkf by Urowayino Jeremiah via Vanguard News Albert Einstein Fools of Fortune

Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

How to jump-start Nigeria economy post-COVID-19 Pandemic

Nwali Tochukwu Watching with consternation the fall out of events, actions, and inactions of our Nigerian leaders on mitigating the negative impact of COVID-19 Pandemic disruptions on our social and economic lives. As a young dynamic business and entrepreneurship writer, and author cum small business owner, what came into my mind as we navigate the storms of COVID-19, was a common English phrase Adages, Proverbs, first recorded in Fuller’s Gnomologia, 1732: ‘A stitch in time saves nine’ which was translated to literally, solve the problems right now! Why procrastinating? If we, as a nation wants to break away from past mistakes, and present mistakes, we should hold the bull by the horn right now. And avoid the roads of political expediency. That is exactly what the stitch in time simply stood for. Promptly address issues posed by Coronavirus. By quickly sewing up of a small hole or tear in a piece of material, so saving the need for more stitching at a later date when the whole ha...
2 comments
Read more

Where is Aguleri Located?

Aguleri is a prominent town often associated with the mighty river called Omabala wgiyflows through it. It is home to a lot of great men and women of Anambra Stare - notably Willie Obiano. History had it that it was the cradle of Igbo people established by Eri, son of Had, son of Jacob (you got to read your Bible babe). Where is Aguleri located? It can be foueat the north eastern part of Nigeria. They share boundaries with Kano, Umueri, Anam and Nando httpss://twitter.com/share https://google.com https://www.alexa.com/siteinfo/google.com https://www.quantcast.com/google.com https://sharedcount.com/?url=https://google.com https://www.similarsites.com/site/google.com https://facebook.com https://www.alexa.com/siteinfo/facebook.com https://www.quantcast.com/facebook.com https://sharedcount.com/?url=https://facebook.com https://www.similarsites.com/site/facebook.com https://youtube.com https://www.alexa.com/siteinfo/youtube.com https://www.quantcast.com/youtube.com ...
Post a Comment
Read more

Media Women Forum begins awareness of mental wellbeing

By Yetunde Arebi Media Women Forum has begun a campaign to create awareness of mental wellbeing. The group organized a Webinar on Saturday  27, 2020 to draw public attention to the need for people especially women to protect their mental wellbeing. The group noted that there is an unpleasant development,  whereby women in their early 40s are dying of heart attack, stroke, and depression. In her opening address Olori  Janet Afolabi, CNN award-winning journalist, Oueen of Apomu Kingdom said different challenges are attacking people mentally. Also read: African Consuls General hold dialogue with Diaspora leaders, U.S. officials “A lot of women worry about their marriages, families, loss of a job, loss of loved ones, domestic violence, sex abuse, and rape. The effects of these unseen, unspoken but piercing emotional pains are creating scars in the minds of women. The scars have sent some women to the grave while some are living  with it.” Olori Janet, therefore, ad...
Post a Comment
Read more