The stockholders of Ghana's largest oil marketing company, GOIL, have authorized a dividend of 0.047 per share for the fiscal year 2021.
This is somewhat higher than the previous year's approval of 0.045.
In his speech to shareholders at the company's 53rd Annual General Meeting, Board Chairman Reginald Daniel Laryea noted, "GOIL's financial performance for last year demonstrated excellent recovery, despite COVID-19 epidemic, achieving a profit of 98.74 million."
He said that, despite the hard year of 2021, the firm managed to enhance its volume performance, with sales of 886.6 million liters, an increase of almost 11% over the previous year.
He went on to say that GOIL's financial performance had improved, with a profit after tax of 98.74 million, up 9 percent from 2020. However, the corporation has yet to surpass the similar amount recorded previous to the year 2020, which was roughly 105 million.
In 2021, earnings per share grew from 0.23 in 2020 to 0.253.
In addition, total assets climbed from 2.1 billion in 2020 to almost 2.5 billion in 2021.
The company retains its dominance in the aviation business.
The firm did not lose any mining clients, and sales volumes climbed by 32% as a result of increasing customer activities.
Its aviation company grew by 21% again, and it retained its dominating position in the local aviation sector.
The two main items "diesel" and "super," of which the Ron 95 variation is the market leader, contributed the most to sales income.
"Our other product mix, which included lubricants and specialized sales to certain industries like mines and bunkering, produced mixed results, but their contribution to the bottom line was favorable," the Board Chairman said.
Meanwhile, the corporation is concerned about an increase in armed robberies at GOIL's gasoline stations.
Despite the fact that rising fuel prices continue to attract robbers, managers assured shareholders that efforts are being made to protect life and property "using a combination of old fashioned vigilance, new technology, and old fashioned vigilance, new technology, and old fashioned vigilance, new technology, and old fashioned vigilance, new technology, and old fashioned vigilance, new technology.
blogpay
