Unilever Nigeria declares ₦2.87 billion dividend

Unilever Nigeria Plc has declared a dividend of ₦2.87bn following the approval by its shareholders at the company’s 93rd Annual General Meeting.

The dividend declared translates to a payout of 50 kobo gross per share to the shareholders, according to a statement.

The company said it recorded a 123 per cent improvement in operating profit, which doubled to ₦12.95bn for the 2017 financial year, adding that this reflected a 14.3 per cent improvement in operating margin compared to 8.3 per cent in the previous year.

It said turnover increased by 30 per cent from ₦69.78bn in 2016 to ₦90.77bn in 2017 while profit after tax grew by 143 per cent to ₦7.54bn in 2017 compared to ₦3.07bn reported for the year ended December 31, 2016.

The Chairman, Board of Directors, Unilever, His Royal Majesty Nnaemeka Achebe, the Obi of Onitsha, was quoted to have said at the AGM in Lagos that the company had again demonstrated business resilience and its commitment to grant shareholders returns on their investments.

“The company’s performance for the year ended December 31, 2017 shows impressive growth and resilience. We have remained focused on our short- and long-term growth ambitions with strong emphasis on operational intensity, cost efficiencies, growing market share across key categories as well as reinvesting in our iconic brands.” he said.

According to Achebe, as the economy continues to improve, Unilever is determined to ensure sustained and steady growth in its operations to achieve improved returns on investments.

He said, “As a company, we will continue to appreciate the resilience and unwavering commitment of all our stakeholders, shareholders, dynamic employees, loyal consumers, dedicated suppliers and other business partners for their unflinching support through these times. We look forward to a better 2018 for our brands and our great company which you are all an important part of.”

The company’s Executive Vice President, Yaw Nsarkoh, said, “In line with our priority, Unilever remains committed to driving returns on investment to shareholders. We also remain resolute on our commitment to continuously invest in our business to secure a sustainable future for our stakeholders.”

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