Total Nigeria closed above N500 in the stock market on August 19, 2024, sustaining a strong buy-side trend that had started since June.
The stock has achieved another positive day at N511 per share with a gain of 19.68% so far in August.
Recall that the stock hit a low of N321 with a volume of 534,644 million shares in the trading week of April 21, 2024.
This fall was followed by a reduction in market participation as volume dissipated in the stock for 7 weeks.
But during the trading week that began on June 9, 2024, the market activity in the stock resumed at 781,484 shares, closing at N388.
Apart from the modest decrease in the stock’s share price in April, Total Nigeria has been on a solid positive trend in the first half of 2024, closing Monday of the third week of August above N500.
The company posted a 93% year-over-year rise in revenue from N274 billion reported in the second quarter of 2023 to N529 billion reported in 2024.
Additionally, pre-tax earnings increased from N13 billion in the second quarter of the previous year to N30 billion in the second quarter of 2024, a 127% increase.
Meanwhile, profit after taxes increased from N8 billion in 2023 to N20 billion in 2024, representing a 134% annual increase.
The earnings per share grew by 134% year-over-year from N25.88 to N60.58 in the second quarter of 2024.
In the annual general conference of the company, shareholders announced the payment of N25 per share in dividends to members whose names are found in its books
