(Ecofin Agency) - Total Senegal closed the day on Monday, June 14 with a value up 7.43% on the Regional Stock Exchange (BRVM) in Abidjan. This is the second largest increase for a stock listed on the sub-regional financial market at the beginning of the week, after the 7.5% increase posted by Crown Siem CI. T

The performance of the Senegalese subsidiary of Total follows the announcement of a dividend per share of CFA223.6 to be paid on July 30 at the latest. This is the best dividend paid in the last five years on BRVM and it comes at the end of a year that was marked by the covid-19 which reduced the company’s turnover by 14%.

Also, for the share price at the end of the previous week (CFA1,480), this remuneration represented a return of 15% for investors. Investors will closely monitor the company's performance in 2021. The first quarter figures have not been encouraging.

The result of ordinary activities has declined by 50%. The company's management team attributes this underperformance to the decline in business due to restrictions related to the pandemic, and to the loss of revenue due to service stations that were vandalized during the protests in early March.

Alongside products sold to consumers such as fuels and lubricants, specialized sectors such as aircraft fuel supply have also been impacted, with sales down 41% in the first quarter of 2021 YoY.

The company is positive about the rest of the year, but without giving any details. For the time being, Total Senegal's share price is showing a loss of 11.5%, since the beginning of the year.

Idriss Linge