Top Oil Trader Vitol Paid $1.12 Billion to Shareholders in 2016
- About 350 employees split payout after firm’s third-best year
- Vitol directors predict 2017 will be a ‘reasonable year’
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Vitol Group paid $1.12 billion to top executives and staff through share buybacks in 2016, one of the highest ever payouts by the world’s biggest independent oil trader.
The buybacks -- Vitol’s principle way of rewarding about 350 top employees who are also shareholders -- came as the company confirmed net income of $2.08 billion for the year, the third-best result in its history, according to regulatory filings.