Unilever Nigeria Plc holds 93rd AGM, Declares N2.87 billion dividends

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Retail & Consumer

Monday, 14,2018

Okafor joseph Afam

Unilever Nigeria Plc. has declared a dividend of N2.87bn following the approval by the company’s shareholders at the 93rdAnnual General Meeting of the Company held in Lagos today at the Muson Centre. The dividend declared translates to a payout of 50 kobo gross per share to the shareholders.

The year ended 2017, showed impressive growth as it recorded a 123% improvement in operating profit which doubled from N5.81 billion to N12.95 billion. This reflects 14.3% improvement in operating margin from 8.3% in the previous year. Turnover increased by 30% from N69.78 billion in 2016 to N90.77 billion in 2017 while Profit After Tax (PAT) for the year ended 31 December, 2017 improved significantly by 143% % to N7.54bn in 2017 compared to N3.07bn reported for the year ended 31 December, 2016.

Addressing shareholders at the 93rd AGM, the Chairman of the Board of Directors, His Royal Majesty Nnaemeka Achebe, the Obi of Onitsha said that Unilever Nigeria Plc. has again demonstrated business resilience. He asserted that the company’s performance shows its commitment to grant shareholders returns on their investments.

“The Company’s performance for the year ended 31 December, 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.” Achebe said.

Speaking further, Achebe said that as the economy continues to improve, Unilever Plc. is determined to ensure sustained and steady growth in the company’s operations to achieve improved returns on investments.

Achebe 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.”

On his part the 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.”

Yaw further said that Unilever is a company that cares about humanity and values the environment. Through our business practices, we continually demonstrate deep commitment to delivering products that meet the needs and aspirations of our consumers and align with the global goals of making our planet safe, beautiful and sustainable.

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