Unilever Nigeria shareholders approve 75k dividend per share


May 14, 2024.

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Azonuchechi Chukwu.

Unilever Nigeria Plc and its shareholders have approved the recommendation of the Board of Directors for a full-year dividend of N4.309 billion, which translates to a dividend payout of 75 kobo per share.

A statement by Unilever said during the Company’s 99th Annual General Meeting, which was held in Lagos on Monday, it declared a dividend of N4,308,753,750 for the year ended December 2023.

The declaration follows an impressive growth in revenue of N103.9bn, representing a 51.3 per cent increase compared to N68.6b recorded in 2022. The shareholders appreciated this growth and reaffirmed their belief in the company’s leadership to grow the business in the coming year.

The financial statement of the Company said profit after tax for the year under review grew to N16.4bn from N5.4b in 2022.

Speaking at the AGM, the Acting Chairman of the Board of Directors at Unilever Nigeria Plc, Mr Michael Ikpoki, expressed appreciation to all shareholders for their support throughout the year despite the challenging environment in the last year.

He promised that the Board and Management would continue to put in their best in fostering growth and navigating the tides as the Company steers toward more success.

“Our resolve as a business is to continue to make strategic decisions that will improve our operational efficiencies to meet citizens’ needs through our brands, our people, and our operations,” he said.

On the improved performance of the business, the Managing Director of Unilever Nigeria Plc, Mr Tim Kleinebenne, said, “The achievement in the year under review is reflective of a collaborative effort from all key stakeholders and improved operational performance and greater investment in our brands, supply, and distributions, to ensure we meet the needs of consumers across channels.

“We are pleased with the results for 2023. It speaks to the impact of the strategic choices we make daily about our operations to better serve the consumers with our best locally produced brands that contribute to improving their health and hygiene.

Kleinebenne added that Unilever had reached its 100-year milestone in Nigeria in 2023, becoming the longest-serving manufacturing company in Nigeria.

“We believe in Nigeria and reaffirm our long-term view of the opportunities that outweigh the challenges. With our resilience, agility, partnership, and commitment of the government on the ongoing reforms through strategic choices, policy formulation, and implementation, gradually a better Nigeria will emerge,” Kleinebenne said.(www.naija247news.com).

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Azonuchechi Chukwu
Azonuchechi Chukwuhttps://gravatar.com/azonuchechivchukwu
Azonuchechi Chukwu - Business Journalist at Naija247news.com Azonuchechi Chukwu is a seasoned business journalist contributing to the insightful coverage of economic and financial news at Naija247news.com. With a passion for unraveling the complexities of the business world, Azonuchechi brings a wealth of expertise and dedication to his role. As a Business Journalist, Azonuchechi specializes in providing comprehensive analyses of market trends, corporate developments, and economic indicators. His in-depth reports offer Naija247news.com readers a nuanced understanding of the forces shaping the Nigerian and global business landscapes. Azonuchechi Chukwu's commitment to journalistic excellence is evident in his ability to translate complex financial information into accessible and engaging narratives. Whether exploring stock market fluctuations, corporate strategies, or economic policies, he strives to deliver content that empowers readers with valuable insights. With an educational background in business and a keen interest in the intersection of finance and technology, Azonuchechi stays at the forefront of industry dynamics. His coverage extends beyond traditional financial reporting, encompassing the dynamic realms of fintech, entrepreneurship, and sustainable business practices. Azonuchechi Chukwu's work goes beyond the surface, aiming to foster financial literacy and awareness among Naija247news.com's audience. By demystifying economic complexities and shedding light on emerging opportunities, he plays a pivotal role in keeping readers well-informed in the fast-paced world of business. As Naija247news.com's Business Journalist, Azonuchechi Chukwu continues to make meaningful contributions to the platform's mission of delivering timely, accurate, and relevant business news to its diverse audience. His dedication to journalistic integrity and his ability to navigate the intricacies of the business realm make him an invaluable asset to the Naija247news.com team.

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