Need for oil majors to list on the NSE as Shell, Chevron, others declare $38.76bn dividend

NSENigerians were once again the losers, as six international oil companies — Royal Dutch Shell, ConocoPhilips, Chevron, Total, Eni and ExxonMobil — paid their shareholders a dividend of $38.76 billion (N6.201 trillion) in 2013.

The dividends were for the 2012 financial year, which was approved by their respective shareholders a couple of weeks ago. The dividends declared by the six oil majors represent about 52.93 per cent of the Nigerian Stock Exchange’s, NSE, market capitalization of N11.714 trillion.

The market capitalization of the NSE is the total market value of all the companies listed on the stock exchange. Last year, Nigerians also missed out from the over $30.82 billion or N4.87 trillion cumulative dividends declared by five IOCs in their home countries, following their refusal to list their shares on the NSE.

The five oil majors operating in Nigeria – Shell, Chevron, ConocoPhilips, Statoil, and Eni, had declared a cumulative dividend of $30.82 billion for the 2011 financial year.

Dividends declared for 2012 are as follows:

•Shell – $7.4 billion (N1.184 trillion);

•ConocoPhillips – $3.278 billion (N524.48 billion);

•Chevron — $6.8 billion (N1.088 trillion);

•Total — $6.8 billion (N1.088 trillion);

•Eni — $4.38 billion (N700.8 billion) and

•ExxonMobil – $10.1 billion (N1.616 trillion)

 

Information from Vanguard was used in this report.

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