TotalEnergies’ Shareholders Approve N7.13bn Final Dividend

TotalEnergies Marketing Nigeria Plc’s shareholders have approved a final dividend of N7.13 billion for the financial year ended December 31, 2022, even as it assured of increasing shareholders’ value through building a robust portfolio of renewable energy assets by leveraging its Nigerian presence to develop the market.

The shareholders gave their approval at the 45th annual general meeting of the company held at the weekend in Lagos. The company had earlier distributed N1.36 billion as interim dividend, representing N4.00 per share, while the management proposed and paid a final dividend of N7.13 billion, representing N21.00 per share.

Speaking to shareholders, the chairman of TotalEnergies, Mr Jean-Phillipe Torres, said, in addition to supplying the masses with the needed energy, the firm would also meet the challenges of climate change, fostering sustainability, ensuring safety and focusing on customer centricity.

According to him, this becomes imperative, considering its determination to become a responsible energy major and a world class player in sustainable energy.

He also said the company’s commitment to renewable energy was unwavering, and by the end of last year, the firm had a combined installed Solar capacity of 6.5MW, adding that, “we commenced a 5MW solar hybrid system in Kano and three solar hybrid system were installed across the country by the end of the year, 362 service stations had been solarized and over 750,000 solar lamps sold.”

He also said that the company maintained its lead in the network as its products and services evolved beyond access to energy solutions as it is now an outlet for a broad range of other products and services.

“We continue to grow stronger in the non-fuel business by turning our service stations into social hubs that attract more customers for services and goods beyond our energy products,” he noted.

He noted that 2022 was a challenging year locally and internationally and yet the company increased its turnover by 41 per cent from N341 billion in 2021 to N482 billion in 2022 financial year end.

He, however, said, due to rising costs, profit after tax decreased by four per cent from N16.8 billion to N16.1 per cent, saying that in the face of the aforementioned and other difficulties it is a laudable achievement.