Total post 17% drop in earnings but impresses with N9 dividend

Revenue

Total Nigeria Plc reported a revenue of N240.6billion representing a 1% increase when compared to the N238billion reported a year earlier.

Profitability

Profit before tax dropped 32% to N5.5 billion (2013: N8.1 billion). The drop in pre-tax profits was due to a drop in other income (32%) to N1.5billion and an increase in finance cost of 32% to N2.6billion. Profit after tax however dropped 17% to N4.4billion due to a lower tax charge for the period.

Shareholders

Earnings per share as well dropped 17% to N13 compared to N15.71 reported in 2013. The company also proposed a dividend payout of N9 per share for shareholders who are included in the register between 20th to 24th April 2015. The proposed dividends thus represents a 69% dividend pay out.