Oil firm Aradel declares interim dividend as profit soars

Aradel Holdings Plc, an integrated indigenous energy company, has announced an interim dividend of N8.00 per ordinary share to be paid to shareholders as its earnings jumped.

Its profit before tax more than tripled to N29.18 billion in the third quarter from N9.50 billion a year earlier, its latest earnings report released on Wednesday shows.

The company, which was listed on the Nigerian Exchange Limited on October 14, said shareholders whose names appear in the register of members as at the close of business on November 20, 2024.

“On 27 November 2024, the interim dividend will be paid electronically to shareholders whose names appear on the Register of Members as of 20 November 2024, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts,” it said.