Conoil, chaired by Mike Adenuga, distributes N1.73 billion to shareholders

The third-richest person in Nigeria and multi-billionaire businessman Mike Adenuga is the CEO of the top petroleum marketing company Conoil Plc, which has announced a sizable dividend distribution to shareholders of N1.73 billion ($2.2 million).The final dividend for Conoil's fiscal year 2022, the $2.2-million payout is equivalent to N2.5 ($0.00319) per share for the entire company's 693,952,117 outstanding common shares. Shareholders approved this decision at Conoil's 53rd Annual General Meeting, which was held on September 22, 2023, in Uyo, Akwa Ibom State. The final payout, which honors Conoil's exceptional financial achievement in its 2022 fiscal year, will be deposited to shareholders' accounts on September 29, 2023, according to the news source Billionaire Africa.