Conoil Plc has declared a final dividend of N3.50 for every share of 50 kobo, payable to shareholders registered as of 21st November 2025.
This was disclosed in a corporate filing on the Nigerian Exchange on 14th November 2025, signed by Bolaji Owolabi, acting company secretary.
According to the filing, the dividend for the year ended 31st December 2024 will be paid electronically to shareholders on 23rd December 2025, subject to withholding tax and regulatory approval.
The company further stated that shareholders should complete their dividend registration and advised those who have not yet registered to do so promptly by downloading the Registrar’s E-Dividend Mandate Activation Form.
For the year ended 31st December 2024, Conoil reported a pretax profit of N11 billion, slightly down from N12.2 billion in 2023, while retained earnings rose to N35.3 billion, representing a 21.90% increase.
Conoil Plc reported a profit before tax of N728 million for the third quarter (Q3) ended 30 September 2025, a sharp 85.50% year-on-year decline from N5.02 billion posted during the same period in 2024.
This contributed to a steep 88% year-on-year decline in the nine-month pre-tax profit, which fell to N1.88 billion from N15.24 billion for the same period last year.
According to the unaudited financial results released on November 1, 2025, at the Nigerian Stock Exchange (NGX), revenue also suffered a notable decline.
In Q3, revenue decreased by 12.22% year-on year to N60.18 billion, which also reduced the nine-month figure by 18.8% to N203.83 billion.
The company’s cost of sales fell by 9.42% year-on-year to N54.86 billion, reflecting the decline in revenue.
Operating profit fell sharply by 35.8% year-on-year to N1.64 billion as margins came under pressure from rising administrative and distribution expenses.
Administrative costs increased by 24%, mainly due to inflationary pressures and higher staff-related expenses.
Finance costs spiked to N2.13 billion, a 744% increase year-on-year, following a significant rise in borrowings.