TotalEnergies Shareholders Okay N13.58bnDividend, Task Management on Bonus Payout 

Kayode Tokede

Shareholders of TotalEnergies Marketing Nigeria Plc have commended the management‘s  N13.58 billion dividend payout and impressive performance for 2024 financial year, requesting the oil & gas company to consider paying bonus amid its nearly two decades of consistent profit generation.

The shareholders at the company’s at 47th Annual General Meeting (AGM) held in Lagos, approved the board N40 per share dividend for the 2024 financial year, translating to a total payout of N13.58 billion, up 60 per cent from N25.00 declared in 2023.

Speaking at the AGM, the National Coordinator Emeritus and Founder Independent Shareholders Association of Nigeria (ISAN), Sunny Nwosu, acknowledged the impressive 2024 performance, calling on the management to consider rewarding shareholders with bonus.

He said, “We want to find out from this company why, since 2004, they have not paid any bonus to shareholders. You have done everything to make us happy, but you have refused to give us a bonus.”

Chairman, TotalEnergies, Jean-Philippe Torres, responded that the company remains committed to rewarding shareholders, stressing that, “We allocate 50 per cent of the profit before tax to the shareholders, and the rest is to run the company and mainly to maintain profitability and continue to deliver value to shareholders.”

He added that the 2024 dividend payout reflects this balance. He said, “After all that, we have to pay many things. If you calculate the ratio between the dividend paid and the profit before tax, it’s something like 50 per cent.”