Adebayo Obajemu

11 Plc (formerly Mobil) on Thursday declared a final dividend of N8.25 to its shareholders.

The oil firm in its Audited Financial Statement for the year ended 31 December, 2019 reported a turnover of N191.68 billion, up by 16.44% when compared to the turnover of N164.61 billion reported in 2018 year end.

Profit before tax was down by 4.29% to N13.1 billion from N13.7 billion reported in 2018.

The firm reported a profit after tax of N8.88 billion, down by 4.77% from N9.33 billion reported in 2018.

Earnings per share (EPS) for Full Year 2019 is evaluated as N24.64, down by 4.77 from the EPS of 25.87 reported in 2018.

With reference to the share price of N213.9, the P.E ratio of 11 Plc (Mobil) is calculated as 8.68x with earnings yield of 11.52%.

A final dividend of N8.25 subject to appropriate withholding tax is proposed to the shareholders of the company. Relative to the share price of N213.9, dividend yield is evaluated as 3.86%.

Qualification date is on September 29, 2020.The register of shareholder will be closed on September 30, 2020.Payment date is yet to be disclosed by the firm.