Mobil Nigeria announces 18.23% decline in PBT

...Offers shareholder N7.20 Dividend

Mobil Oil Nigeria Plc said on Tuesday its profit before tax  for the period December 31, 2015 dropped by 18.23 per cent to N6.91 billion from N8.45 billion recorded a year ago.

Similarly, profit after tax (PAT) declined 24 per cent to N4.87 billion from N6.40 billion posted the same period of 2014.

Revenue of Mobil also declined from N79.58 billion in 2014 to N64.22 billion in the review period of 2015; indicating a decline of 19.30 per cent, according to the oil marketing major in a filing with the Nigerian Stock Exchange (NSE).

In its corporate action to the NSE, Mobil said its proposing a dividend of N7.20 per share compared to N6.60 paid in 2014; showing an increase in dividend of 9.09 percent.

Mobil Nigeria said qualification and closure date of register of members is April 27 and April 28, 2016 respectively, and annual general meeting (AGM) has been scheduled for May 25, 2016. The oil marketer said payment date for the N7.20 per share dividend is June 1, 2016.