Shareholders of Unilever Nigeria Plc are set to receive a dividend of N4.309 billion for the financial year ended December 2023, amounting to N0.75 kobo per share. The decision was made by the company’s Board of Directors in accordance with section 426 of the Companies and Allied Matters Act (CAMA 2020) of Nigeria.
Corporate Action Announcement: The dividend declaration was communicated to the Nigerian Exchange Limited (NGX) through a corporate action announcement obtained by Nairametrics.
Shareholder Approval and Payment Details: Subject to shareholders’ approval, the dividend will be paid to shareholders whose names are listed in the Register of Members as of the close of business on Friday, April 26, 2024. The final approval is expected to be obtained at the next Annual General Meeting. The cash dividend will be electronically disbursed on May 10, 2024, to qualifying shareholders who have completed the e-dividend registration and provided authorization for direct deposit into their bank accounts.
Advice to Shareholders: Shareholders who have not completed the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Activation Form from the Registrar’s website. Additionally, shareholders with outstanding dividend warrants or unclaimed share certificates are encouraged to complete the e-dividend registration process or contact the Registrar for assistance.
Financial Performance: Unilever Nigeria reported robust financial performance in 2023, with a pre-tax profit of N21.9 billion, marking a significant growth of 151% from the previous year’s N8.7 billion. The company’s audited financial statements for 2023 revealed a revenue of N103.9 billion, representing a 51.3% increase from N68.6 billion in 2022. Furthermore, the profit after tax for 2023 surged to N16.4 billion, a remarkable 205% rise from N5.4 billion in 2022. However, due to discontinued operations, the company incurred a loss of N8.0 billion, resulting in a net profit of N8.4 billion for the year. Notably, the nutrition products segment contributed N63.3 billion in revenue, while personal care products generated N33.1 billion.
Source: Nairametrics