NIPCO DECLARES 375 KOBO DIVIDEND FOR 2014.

Nipco plc has declared a dividend of 375 kobo per share for the financial year ended 31st December, 2014 representing a leap of 25% than the 350 kobo paid to its shareholders a year earlier.

Chairman Nipco plc, Chief Bestman Anekwe who disclosed this at the company’s 11th Annual General Meeting held in Abuja said the improved dividend payout is a reflection of the good performance of the organization over the preceding year .

Chief Anekwe who expressed delight in the consistent manner in which the company had been rewarding shareholders since inception said the feat is fallout of the diligent sustenance of the inroad made by the organization in the nation’s oil and gas industry.

According to him, the growth pattern of the company in recent times is an affirmation of the fact that the firm is emerging stronger, bigger and more committed to excellent services.

He announced a turnover of N145.174bilion and a profit before tax of N2.916 billion for the 2014 fiscal year as against N137.851 billion and N2.827 billion respectively in 2013.

Chief Anekwe stated that the result is also commendable in view of the fact that the industry is replete with average performance by our competitors .

The Chairman pointed out that the company’s focus in the coming year would be to continue to build a formidable petroleum company that would fit better into the energy reforms of the government.

Speaking on the sidelines ,Managing Director ,Mr Venkataraman Venkatapathy said “ we expect that 2015 will bring its own challenges but we shall remain focussed to our vision of being the first choice company in the Oil and Gas industry to all stakeholders and work to make the best out of the year “.

According to hum ,.the company will continue to lay emphasis on what we can control ; providing our customers with the best service in the market ;managing our cost ;strengthening our brand and doing our part to move the economy forward  .

He said the company will continue to focus on its strategic themes to guide decisions about investment and ensure that its operations continue to be in tandem with international best practices which will no doubt propel the company to exceptional performance in 2015.

Mr Venkatapathy said that the company’s passion for safety continued to pay off and earned her scores of recognition, the most recent being Nigeria Ports Authority [NPA] Best HSE compliant terminal award for the fourth consecutive year.

The MD assured the shareholders that the company’s transformation agenda is on course and shall remain committed to meeting the needs of its stakeholders in line with corporate mission.