Energy firm Oando Plc has commenced the second tranche of its stock dividend distribution, issuing additional shares to shareholders as part of a phased capital return programme.
The new tranche covers over 600 million ordinary shares to be distributed on a pro-rata basis to eligible investors, with completion expected before the end of the first quarter.
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The distribution forms part of a broader strategy approved by shareholders to enhance value while maintaining market stability and investor confidence.
The programme is being implemented in coordination with regulatory authorities and has been communicated to the Nigerian Exchange Limited.
Company officials say the phased issuance reflects a long-term approach aimed at supporting growth, strengthening investor relations, and reinforcing the firm’s position within Africa’s energy landscape.
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