11 Plc, formerly Mobil Oil Nigeria Plc, has achieved modest revenue growth driven by its expanded product portfolio and enhanced distribution network across all its lines of business.
At the company’s 47th Annual General Meeting, Chairman, 11 Plc, Ramesh Kansagra, through Non – Executive Director,Alhaji Aminu Abdulkadir announced that the company’s Board of Directors has recommended a dividend payout of N3,335,506,164.25, equivalent to 925 kobo per ordinary share of 50 Kobo each
The dividend pay out which was unanimously approved by the shareholders with accolades to the Board and management for consistent yearly rewards for investors amidst the harsh operating environment ..
Kansagra attributed the company’s revenue growth to its commitment to innovation and customer satisfaction, saying by expanding its product portfolio and enhancing its distribution network, 11 Plc has met the evolving needs of its customers and stay ahead.
According to him, the company’s dividend payout is a reflection of its commitment to delivering value to its shareholders, stressing that prioritising dividend payments is a demonstration of its commitment to transparency and accountability.
“Despite numerous industry headwinds , 11 Plc has continually embraced innovation and adaptation. The company has made substantial investments in infrastructure development, including upgrading storage facilities and expanding its distribution network “ the Chairman averred
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Kansagra emphasized the company’s commitment to delivering exceptional customer service, stating that 11 Plc is dedicated to meeting the evolving needs of its customers and contributing to the country’s economic growth.
“The company’s financial performance is a testament to its strong management team and strategic direction. By prioritizing transparency and accountability, 11 Plc is positioning itself for long-term success and contributing to the country’s economic growth” he stated
He noted that as 11 Plc continues to navigate the complex business environment, it remains focused on delivering value to its shareholders and customers.
Kansagra informed the shareholders that the company’s commitment to innovation and sustainability is a testament to its leadership in the energy industry.
“11 Plc’s modest revenue growth and dividend payout are a reflection of its commitment to innovation, customer satisfaction, and transparency. The company’s financial performance is a testament to its strong management team and strategic direction” the chairman concluded .