Ardova Plc declares 19 kobo as dividend, posts N1.86bn profit in FY’20

Adebayo Obajemu

Ardova Plc has declared a final dividend of 19 kobo per 50k ordinary share to its shareholders, subject to appropriate withholding tax and approval. This would be paid to shareholders whose names appeared in the Register of Members as at the close of business on Thursday, March 25, 2021.

The Group reported a turnover of N181.94 billion. Cost of sales for the 12 months period was N169.81 billion, bringing their Gross Profit to N12.13 billion.

The Oil firm reported Profit before Tax of N2.905 billion for the period under review. About N1.048 billion was spent on taxation, bringing Profit after tax to N1.86 billion.

With shares outstanding of 1,302,481,103, the earnings per share of Ardova Plc stands at N1.43.

At the referenced share price of N14.85, the P.E ratio of Ardova Plc stands at 10.38x with earnings yield of 9.63