TotalEnergies Declares N13.58bn Dividend Amid Shareholders’ Demand for Bonus Shares

otalEnergies Marketing Nigeria Plc has announced a total dividend payout of N13.58 billion for the 2024 financial year, even as shareholders continue to press the board to issue bonus shares—a request that has remained unanswered since 2004. The announcement was made during the company’s 47th Annual General Meeting held in Lagos.

According to the company, the dividend represents a 60 per cent increase compared to the previous year. Each shareholder will receive N40 per share, up from N25 paid last year. This increase in dividend payment was appreciated by shareholders, but many took the opportunity to raise concerns about the absence of bonus share issuance for over two decades.

Speaking at the meeting, Mr. Sunny Nwosu, the leader of the Independent Shareholders Association of Nigeria, questioned why bonus shares have not been issued since 2004, despite the company’s strong and consistent financial performance.

“We want to find out from this company why, since 2004, they have not paid any bonus to shareholders. You have done everything to make us happy, but you have refused to give us a bonus. We don’t know why,” Nwosu said.

Another shareholder, Mr. Anthony Omoniyi, pointed to the company’s strong financials, including a net profit of N74.9 billion for the year under review. He said issuing bonus shares would allow retail investors to own more shares, especially as the cost of buying shares from the open market continues to rise.

Shareholders also demanded that the company resume interim dividend payments, especially during festive periods. They said such payments would go a long way to assist low-income investors who depend on dividends for financial relief during holidays.

In response to these concerns, TotalEnergies Chairman, Mr. Jean-Philippe Torres, explained that the company is focused on maintaining a balance between rewarding shareholders and reinvesting in the business to sustain growth and profitability.

“We allocate 50 per cent of the profit before tax to shareholders, and the rest is to run the company and mainly to maintain profitability and continue to deliver value,” Torres said.

He added that the company has been facing higher operational costs caused by strategic investments in asset maintenance, publicity, and the impact of inflation, forex fluctuations, and changing regulations in the oil and gas sector.

On the issue of unclaimed dividends, which currently stand at over N2.4 billion, shareholders urged the company to work closely with share registrars to trace and return the funds to their rightful owners. Many investors are believed to have missed their dividends due to outdated bank or contact details, and the shareholders are asking the company to take more proactive steps to clean up the records.

Despite these issues, the company showed strong financial growth in 2024. TotalEnergies recorded a 64 per cent rise in revenue to N1.04 trillion. Profit before tax also increased by 140 per cent to N42.25 billion, while comprehensive income went up by 113 per cent to N27.49 billion.

Looking ahead, the company has projected a revenue of N191.61 billion for the second quarter of 2025. This projection was disclosed in its forecast of the statement of profit or loss and other comprehensive income filed with the Nigerian Exchange Limited.

In related activities, TotalEnergies has continued to engage in various initiatives. The company recently partnered with the Nigerian Conservation Foundation (NCF) on climate action and environmental sustainability. These steps are in line with its broader goal of balancing profitability with environmental responsibility.

As discussions around dividend policies and bonus shares continue, shareholders say they will keep engaging the board to ensure that the interests of both the company and the investing public are protected.