March 4, 2020 / 7:22 AM / 3 months ago

Vivo Energy reports solid growth, doubles final dividend

March 4 (Reuters) - African fuel retailer Vivo Energy said on Wednesday its annual adjusted core earnings rose 8%, as sales rose at its Engen and Shell-branded filling stations and the company continued to expand its network rapidly.

The company, which operates across 23 African countries, said its adjusted earnings before interest, tax, depreciation and amortisation rose to $431 million for the year ended Dec. 31, compared with $400 million a year ago.

The company also said it was recommending a final dividend of 2.7 cents per share, up from 1.3 cents in 2018, bringing the full year dividend to 3.8 cents, 15% higher than a year earlier. (Reporting by Shanima A in Bengaluru; editing by Patrick Graham)

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