At the 56th Annual General Meeting (AGM) of MRS Oil Nigeria Plc, Chairman Patrice Alberti reassured shareholders that the company plans to resume dividend declarations soon, addressing queries raised during the meeting.

He reminded shareholders that  over the past decade, the company has demonstrated impressive shareholder value creation.

The company’s share price surged from N9.69 in 2015 to a peak of N217.80 in December 2024, reflecting a cumulative return of over 2100%.

The company achieved annual share price gains of 644.68% in 2025 and 107.43% in 2024. MRS maintained a payout ratio of 12% and a dividend yield of 15%, balancing shareholder rewards with growth reinvestment.

MRS is aligning itself with evolving dynamics in Nigeria’s downstream sector, which is poised for gradual stabilisation in 2025.

“As we migrate to the NASD OTC Securities Exchange, the board remains firmly committed to extending this record of value creation for every shareholder.”

MRS Oil Nigeria Plc, formerly known as Texaco Oil Nigeria and later Chevron Oil Nigeria, is a fully integrated and efficient downstream player with leading positions in Nigeria’s oil industry.