Total Nigeria records 25.2% profit growth 2012, proposes N8 dividend

Total Nigeria on Wednesday released its fourth quarter (Q4) 2012 results on the floor of the Nigerian Stock Exchange (NSE), with sales figure of N51.455 billion, a 16.4% growth and N217.844 billion in full year, a growth of 25.2%.

 

Profit after tax (PAT) was put at N949 million, a decline of 23.9%, but the full year N4.671 billion profit was at 22.5% growth.

 

Its profit before tax declined by 19.2% y/y to N1.4 v, largely due to a 20% y/y rise in opex to N5.5 billion.

Total proposed a dividend of N8.00 per share for 2012, subject to the final approval of shareholders. The proposed dividend implies a dividend yield of 4.4% and a payout ratio of 58% based on a full year EPS estimate of N13.8.

 

Analysts from FBN Capital put consensus estimates for 2013 sales and PBT at N214.3 billion and N7.2 billion respectively.

 

Total shares as at Tuesday outperformed the sector and the ASI, gaining 49.3% compared with 21.4% for the All Share Index and 33.1% for the NSE Oil& Gas sub-index.

 

Source: WorldStage Newsonline