GOIL maintains dividends to shareholders despite challenging year
GOIL PLC, the leading oil marketing company in Ghana has maintained its dividend to shareholders despite a challenging year.
This was announced at the company’s 55th Annual General Meeting of shareholders held in Accra. The Meeting which was also attended by other stakeholders declared a dividend of GHs0.056 per share, amounting to GHs21,944,335.00 for the year ending 31st December, 2023.
The board chairman of the company, Reginald Daniel Laryea, told shareholders that despite a tough operating environment, GOIL PLC achieved a modest profit of GHS 54.7 million Cedis.
GOIL, he said, will continue to showcase its resilience in its ability to generate returns for shareholders as a demonstration of keeping faith with them even in times of difficulties.
“Your shareholding is highly valued and cherished, therefore, despite the challenges we faced the board has made the decision to maintain and recommend a dividend payment of 0.56 per share reflecting our commitment to shareholder value and our optimism,” he said.
On assets, the Board Chairman noted that even though the consolidated total assets decreased from GHs4.6 billion in 2022 to GHs4.0 billion in 2023, the consolidated non-current assets including property, plant and equipment grew from GHs1.4 billion in 2022 to GHs1.6 billion in 2023, representing a 14.58% increase.
On the future outlook for the business, the Board Chairman announced that GOIL Bitumen plant is now fully operational and will soon be officially commissioned.
