Oando Plc,one of Africa’s largest integrated energy solutions providers, paid a total dividend of N5.1 billion to its shareholders for the December 2012 financial year on September 2, 2013.

CEOAFRICA news desk gathered this recent disbursement represents a significant 61% increase over previous year pay by the company which shareholders could not help but appreciate.

However the Oando recently concluded N62.6 billion rights issues, which opened between December 2012 and February 2013, recording over subscription, was highlighted by  analysts to demonstrate the measure of shareholder confidence in the company’s ability to continue generating sustainable earnings and increases value.

Oando’s group Chief Executive, Wale Tinubi, viewed the centrepiece of the overall growth strategy focused on steady and progressive value creation for the shareholders.

He reassures the shareholders that their business will always yield steady returns on investments, noting that the company is being positioned to ensure that the shareholders continue to enjoy excellent dividend payout year after year.

He however commended the progress so far stating that Oando has steadily reduced its overall debt by 18 percent last twelve months from N289 billion to N236 billion.