Soco reveals maiden dividend

Soco International, the British oil exploration and production company focused on west Africa and Vietnam, unveiled its promised first payout to shareholders yesterday. Reporting record production for a third successive half-year, the company said it would pay 40p per share to shareholders by means of a special share scheme and target a future shareholder return of 50 per cent of free cash flow. Soco shares rose 3.2 per cent.