Ghana Oil Company Limited (GOIL) has announced that its Board of Directors will be recommending the payment of a final dividend for the 2022 financial year to its shareholders at the upcoming Annual General Meeting (AGM). The proposed dividend amount stands at GH¢0.056 per share, reflecting the company’s solid financial performance and commitment to rewarding its investors.
To be eligible for the final dividend, shareholders must be registered in GOIL’s books as of the close of business on Wednesday, June 21, 2023. This qualifying date will determine the list of shareholders entitled to receive the dividend payment. It is worth noting that the Register of shareholders will be closed from Thursday, June 22, 2023, to Friday, June 23, 2023, inclusively. During this period, no changes or modifications can be made to the share register.
To ensure clarity in the market, GOIL has set the ex-dividend date as Monday, June 19, 2023. This date signifies that investors who purchase GOIL shares before June 19 will be entitled to the final dividend, while those who acquire shares on or after this date will not be eligible. The ex-dividend date helps establish a clear boundary, ensuring that investors are aware of their entitlement to the dividend based on the timing of their share purchases.
By implementing an ex-dividend date, GOIL aims to maintain fairness and transparency in its dividend distribution process. Investors can plan their investments accordingly, knowing that the cutoff date to be eligible for the dividend is June 19, 2023.
Looking ahead, GOIL has scheduled the payment of the final dividend for Monday, August 7, 2023. Shareholders who qualify for the dividend will receive their payment on this date, rewarding their continued support and confidence in the company’s growth prospects.
The dividend recommendation and subsequent payment underscore GOIL’s commitment to maximizing shareholder value. By distributing a portion of its profits as dividends, the company aims to provide a tangible return to its investors, enhancing their overall investment experience.
This dividend announcement comes on the back of GOIL’s impressive financial performance during the 2022 fiscal year. The company’s solid financials reflect its effective management strategies, focus on operational efficiency, and ability to navigate through challenging market conditions.
Furthermore, the dividend payment serves as a testament to GOIL’s commitment to sustainable growth and long-term shareholder value creation. By consistently rewarding its investors, GOIL demonstrates its dedication to delivering favorable returns while maintaining financial stability and fostering investor confidence.
As shareholders eagerly await the upcoming Annual General Meeting, where the final dividend recommendation will be presented, GOIL continues to position itself as a leading player in the Ghanaian energy sector. Through its robust business model, emphasis on customer satisfaction, and commitment to corporate governance best practices, GOIL aims to consolidate its market position and drive further growth in the years to come.
GOIL’s announcement of a final dividend recommendation for the 2022 financial year demonstrates the company’s dedication to its shareholders and their investment interests. By adhering to key dates, including the qualifying date, ex-dividend date, and payment date, GOIL ensures fairness and transparency in its dividend distribution process. As investors eagerly await the upcoming Annual General Meeting, the proposed dividend payment stands as a testament to GOIL’s commitment to delivering value and fostering long-term growth.