Okomu Oil posts N23.4bn profit in FY’20, declares N7 dividend to shareholders

Okomu Oil Palm Company Plc in its Audited Financial Statement of the year ended 31 December 2020 declared a final dividend of N7 to shareholders.

The Group reported a turnover of N23.4billion, up by 24.1% from N18.67 billion reported in 2019.

Profit after tax grew by 54.1% year on year to N7.78 billion from the profit after tax of N5.05 billion reported the previous year.

Earnings per share increased by 54.1% year on year to N8.16 from the EPS of N5.29.

At the share price of N90, the P.E ratio of Okomu Oil stands at 11.03x with earnings yield of 9.06%.