Forte oil shareholders task new management on sustainable dividends

Forte Oil, a Nigerian energy company, has tasked its new management with ensuring sustainable dividends for shareholders. This is a significant development for the company, which has been facing financial challenges in recent years.

Forte Oil's new management team, led by Mr. Akin Akinfemiwa, has been tasked with implementing a new strategy to improve the company's financial performance and increase its dividend payouts to shareholders. The company's board of directors has given the new management team a mandate to focus on sustainable growth, cost reduction, and improved operational efficiency.

In a statement, the company's chairman, Mr. Femi Otedola, said that the new management team has been given the responsibility of ensuring that Forte Oil becomes a more sustainable and profitable business. He added that the company's shareholders are expecting a significant improvement in its financial performance and dividend payouts.

The new management team has already started implementing its strategy, which includes a focus on cost reduction, improved operational efficiency, and the development of new business opportunities. The team is also working to improve the company's financial reporting and governance practices.

Forte Oil's shareholders have been waiting for the company to improve its financial performance and increase its dividend payouts. The company's dividend yield has been declining in recent years, and its shareholders have been seeking a more sustainable dividend policy.

The appointment of a new management team and the implementation of a new strategy are seen as positive developments for Forte Oil and its shareholders. The company's financial performance is expected to improve in the coming years, and its dividend payouts are likely to increase as a result.

In conclusion, Forte Oil's new management team has been tasked with ensuring sustainable dividends for shareholders. The company's board of directors has given the new management team a mandate to focus on sustainable growth, cost reduction, and improved operational efficiency. The new management team has already started implementing its strategy, which includes a focus on cost reduction, improved operational efficiency, and the development of new business opportunities.