Nairametrics
  • Home
  • Exclusives
    • Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Ranking & Reviews
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
  • Economy
    • Macro-Economic News
    • Get Data
  • General News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Ranking & Reviews
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
  • Economy
    • Macro-Economic News
    • Get Data
  • General News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Industries Company News

3 requests shareholders made at Nestle’s 49th AGM

Onome Ohwovoriole by Onome Ohwovoriole
May 24, 2018
in Company News, General News
Mauricio Alarcon,CEO, Nestle, Nigeria

Mauricio Alarcon,CEO, Nestle, Nigeria

Share on FacebookShare on TwitterShare on Linkedin

Fast Moving Consumer Goods (FMCG) giant, Nestle Nigeria Plc, recently held its 49th Annual General Meeting (AGM) in Lagos. Here are the key points made by the shareholders as well as the response from the board of directors.

Bonus

Shareholders severally requested for a bonus dividend. In their view, issuing bonus would increase the liquidity of the stock since the majority shareholders did very little trading.

A shareholder by name Mrs E.0. Ogundeyi, however, took a contrary opinion, insisting it would lead to a lower price of the stock.

Nestle last issued a bonus of 1 for 5 on the 28th April 2011.

More female board members

Popular shareholder activist Boniface Okezie also advocated for the inclusion of more women on the company’s board. The 8 member board has just one lady, Ndidi Nwuneli.

Minority representative

Nona Awoh, a shareholder requested that a minority representative is appointed to the board. Minority shareholders hold 33% of the company’s issued share capital, with the parent company holding the rest.

Unclaimed dividends

Awoh also sought details as to how the unclaimed dividends amounting to ₦1.7 billion was managed by the registrars.

Going forward

In response to questions on the Abaji water factory (located in Abuja), Chairman of Nestle, David Ifezulike stated that the project had improved and was a long-term play.

Ifezulike also expressed optimism that the company would sustain its 2017 performance.  FY 2017 results for the company showed it made revenues of ₦244 billion in 2017 as against ₦181 billion in 2016. Profit before tax rose from ₦21.5 billion in 2016 to ₦46.8 billion in 2017. Profit after tax jumped massively from ₦7.9 billion in 2016 to ₦33.7 billion in 2017.
He also stated that the board would consider the request for a bonus issue.

Nestle Nigeria Plc began trading operations in Nigeria in 1991 and was listed on the Nigerian Stock Exchange (NSE) on April 20, 1979.  The company has over 2000 direct employees.

Nestle shares closed at ₦1600 in yesterday’s NSE trading session, up 2.83% year to date.

Related

Tags: Nestle Nigeria PlcNigerian Stocks

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Access Bank
Bankers Committee
Flowmono

Bfpeer
Mega Millions
FCMB
Ikeja Electrics
Zenith CEX
Kwakol Markets
First bank





    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • US dollar starts the week on a strong footing as investors seek safety
    • 2023: Saraki promises to resolve Ajaokuta steel in first year if elected president
    • Nigeria needs collaboration of DFIs to curb economic hardship – BoI

    Follow us on social media:

    Recent News

    The US dollar remains king, U.S dollar gains against major currencies, America threatens China with sanctions., U.S dollar slumps against major currencies, investors become optimistic about global demand, U.S Dollar Stands Firm, Foreign Exchange Traders Remain Neutral 

    US dollar starts the week on a strong footing as investors seek safety

    May 16, 2022
    EFCC reportedly releases Saraki on bail

    2023: Saraki promises to resolve Ajaokuta steel in first year if elected president

    May 16, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Ranking & Reviews
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
    • Economy
      • Macro-Economic News
      • Get Data
    • General News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com