Oando stock dividend enters second tranche, distributing 604 million shares to shareholders, reinforcing commitment to value creation

Oando Plc, a leading African integrated energy company, has commenced the second tranche of its stock dividend distribution, issuing an additional 604,348,395 ordinary shares to shareholders.

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The announcement was made following approval by the Board of Directors on 10 February 2026.

The milestone follows shareholder authorisation granted at Oando’s 45th Annual General Meeting on 17 December 2024, which permitted the Board to distribute shares on a pro-rata basis over a 36-month period.

The first tranche, covering shareholders on record at the close of business on 14 February 2025, was successfully completed in August 2025.

Under the second tranche, shareholders of record as of 30 June 2025 will receive two new ordinary shares for every 27 shares held.

The Board expects the distribution to be completed on or before 31 March 2026.

Oando stated that the phased approach is designed to maintain market stability while enhancing shareholder value and reinforcing investor confidence.

The company’s recent operational growth, including the $783 million acquisition of Nigerian Agip Oil Company and the award of Block KON 13 in Angola’s Onshore Kwanza Basin, underpins its ability to deliver sustainable returns.

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Through the continuation of the stock dividend programme, Oando Plc aims to strengthen its reputation as a shareholder-focused organisation committed to value creation, operational excellence, and sustainable growth across Africa’s energy sector.