Standard Life Investor in Royal Dutch Shell says it will Vote against Shell BG tie-up

A key investor in Royal Dutch Shell has said the oil company's proposed takeover of BG Group does not work at current oil prices.

 

David Cumming, head of equities at Standard Life, said oil needed to be over $60 rather than the current $33.

He said the fund manager would oppose the deal when it goes to a shareholder vote later this month.

But Shell has said it remains confident of winning the vote.

Shareholders of Dangote Cement approve N102 billion dividend payout

Shareholders of Dangote Cement Plc on Wednesday approved N102 billion dividend recommended by the board for the 2014 financial year.

The dividend payout translates into N6 per share and payout ratio of 63.5 percent.