Okomu Oil Palm Plc has announced it will hold its Annual General Meeting on the 25th of May 2023 in Lagos. This is contained in the notice to shareholders sent through the Nigerian Exchange Group by Chukwuebuka Omerole, company secretary.
Among the business to be deliberated upon on that day include the company’s audited financial statements for the year ended 31 December 2022, along with the reports of directors, auditors and audit committee.
The business of the day also includes the declaration of dividend, the authorization for the directors to fix auditor’s remuneration, to elect members of the audit committee as well as disclose managers’ remuneration.
“Pursuant to Section 282 of the Companies and Allied Matters Act, 2020, the company received special notices that Hubert Fabri who is 71 years old be re-elected as a director of the company and Peter Eguasa who is 72 years old be re-elected as a director of the company,” Omerole stated.
Before the latest notice to shareholders, the board of directors of Okomu Oil Palm Plc had declared a final dividend of N12 per 50 kobo ordinary share for shareholders whose names appeared in the register of members at the close of business on Monday 24th April 2023. Dividend will be paid to shareholders on 25 May 2023.
Okomu Oil Palm based in Edo State, had a good outing in 2022 as its revenue from the sale of palm oil produce, rubber sales as well as palm oil processing surged by 59 percent to N59.32 billion as of December 2022 compared to N37.39 billion as of December 2021.
Profit before taxation was up 46 percent to N23.52 billion at the end of last year compared to N16.11 billion in the previous year. Profit after tax rose by 41 percent to N16.23 billion as of December 2022 compared with N11.54 billion during the same period in 2021.
Okomu Oil is one of the leading companies in Nigeria championing environmental sustainability.
“The company has, for the third year in a row been successfully re-certified under the internationally recognized Roundtable on Sustainable Palm Oil (RSPO) certification scheme, a momentous achievement for our company that confirms that our practices at Okomu main estate are first-world standard in the fields of sustainable environmental conservation, health, education, community, worker rights, legal and safety practices.
“The company also once again successfully completed all other statutory Federal and State environmental audits in 2022, as well as the re-certification of our ISO9001:2015, ISO14001:2015 and ISO45001 (previously ISO18001:2007) for product quality, environmental sustainability and health and safety, respectively. Furthermore, the company also obtained its re-certification for Halal, which allows the Company to provide products that will be accessible to the Muslim community,” the company stated.
Okomu Oil Palm committed N376 million to different community projects under its corporate social responsibility schemes. This compares to N283.86 million the company spent on CSR projects in 2021.
