Unilever pays N2.87 billion total dividend to shareholders

Unilever Nigeria Plc has declared a total dividend of N2.87billion following the approval by its shareholders at its 93rd Annual General Meeting, in Lagos, at the weekend.The dividend pay-out translates to 50 kobo per share due to every investor of the firm for the 2017 financial year.

Reviewing its performance at the meeting, Unilever Chairman, His Royal Majesty Nnaemeka Achebe, explained that the year ended 2017, showed impressive growth, as the firm recorded a 123 per cent improvement in operating profit, which doubled from N5.81billion to N12.95billion.

According to him, this represents 14.3 per cent improvement in operating margin from 8.3 per cent in the previous year.He explained that turnover increased by 30 per cent from N69.78billion in 2016 to N90.77billion, while Profit After Tax (PAT) for the year ended December 31, 2017, improved significantly by 143 per cent to N7.54billion in 2017 compared to N3.07billion achieved a year earlier.

Achebe said: “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.”
Furthermore, he assured shareholders that the company is determined to ensure sustained and steady growth in its operations, to achieve improved returns on investments.

“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.”

He added: “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.”