Unilever Nigeria Plc and its shareholders have given the green light to a dividend of 75 kobo per share, marking a notable increase from the 25 kobo dividend declared in 2022.
The decision was announced during the Company’s 99th Annual General Meeting, which convened in Lagos on Monday, where a dividend totaling N4,308,753,750 for the fiscal year ended December 2023 was declared.
This dividend declaration follows a remarkable surge in revenue, with figures soaring to N103.9 billion, reflecting a substantial 51.3% increase compared to the N68.6 billion recorded in 2022. Shareholders lauded this impressive growth trajectory and reiterated their confidence in the company’s leadership to drive further business expansion in the upcoming year.
The company’s financial report for the year under review also highlighted a substantial rise in profit after tax, climbing to N16.4 billion from N5.4 billion in 2022.
Addressing shareholders at the AGM, Mr. Michael Ikpoki, the Acting Chairman of the Board of Directors at Unilever Nigeria Plc, expressed gratitude for their unwavering support amid the challenges encountered in the preceding year. He assured shareholders that both the Board and Management would remain steadfast in their commitment to fostering growth and overcoming obstacles as the Company continues its journey towards greater success.
Mr. Tim Kleinebenne, the Managing Director of Unilever Nigeria Plc, attributed the improved performance of the business to collaborative efforts from key stakeholders and enhanced operational efficiency. He emphasized the company’s strategic investments in brands, supply, and distribution, aimed at meeting the diverse needs of consumers across various channels.
Kleinebenne also highlighted a significant milestone reached by Unilever Nigeria in 2023, marking its centenary in the country and solidifying its position as the longest-serving manufacturing company in Nigeria.
Expressing confidence in Nigeria’s future, Kleinebenne reaffirmed the company’s long-term commitment to the Nigerian market. He cited resilience, agility, and collaboration as key factors driving Unilever’s success, alongside the government’s ongoing reform efforts aimed at fostering a conducive business environment.
In conclusion, Unilever Nigeria’s robust financial performance, coupled with its unwavering commitment to serving consumers and contributing to national development, underscores its pivotal role in Nigeria’s economic landscape and its determination to navigate challenges while seizing opportunities for sustainable growth.
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