MON, OCT 19 2020-theG&BJournal-11 Plc, formerly Mobil Oil Nigeria Plc and currently the sole authorized distributor of Mobil fuel and lubricant brands in Nigeria, has become the latest in the thin list of global oil companies to pay dividend having received approval from shareholders to pay a total of N2,974, 910, 903, equivalent to N825K per share.
The dividend payout is one of the proposals passed as ordinary resolution during the company’s 42nd annual general meeting held on the 14th day of October, 2020 at Transcorp Hilton Abuja.
Among the resolutions passed is the transfer of the real estate portfolio of 11 Plc to 11 Hospitality Limited, a wholly owned subsidiary of 11 Plc, as recommended by the Board of Directors.
The company also fixed executive remuneration for the year ending December 31, 2020 at N500,000 for each of the non-Executive Directors in the total sum of N2.5 million.
11 Plc announced last week that the Committee of the Board has scheduled its meeting to hold on October 28, 2020 to among other things consider the unaudited financial statement for Q3 2020.
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