At the 47th Annual General Meeting (AGM) of TotalEnergies Marketing Nigeria Plc held in Lagos, shareholders applauded the Board of Directors for approving a robust dividend of N40.00 per share—amounting to N13.58 billion—for the financial year ended December 31, 2024.
While celebrating the company’s stellar financial performance, shareholders raised concerns over the growing issue of unclaimed dividends, which now total approximately N48.3 million. They urged the company’s management and registrars to intensify efforts to locate affected shareholders and disburse the funds to avoid forfeiture to the government.
Sir Sunny Nwosu, Emeritus National Coordinator of the Independent Shareholders Association of Nigeria (ISAN), praised the Board for its results and dividends. Shareholder activist Nonah Awoh echoed similar sentiments but stressed the urgency of resolving the unclaimed dividends issue. He also called for the appointment of a Nigerian as managing director, noting that the company has operated in Nigeria for 100 years.
In response, Chairman Jean-Philippe Torres thanked shareholders for their continued support. He highlighted the company’s exceptional growth despite economic challenges: turnover surged by 64% from N635.95 billion in 2023 to N1.041 trillion in 2024; profit before tax rose by 140% to N42.4 billion; and profit after tax climbed 112% to N27.4 billion.
“We take your concerns seriously and will continue to address them as we move forward,” Torres assured.