Cadbury Nigeria Plc has promised its shareholders that it will not relent in its effort to create more wealth and maintain its current dividend policy.
Cadbury’s Chairman, Mr. Atedo Peterside, who stated this during the company’s 54th Annual General Meeting (AGM), in Lagos, added that the company had a good business year in 2018. According to him, this was a result of the company’s cost-cutting measures, effective marketing strategy, as well as the positive performance of its various brands. According to him.
“We re-launched our iconic cocoa beverage drink, Bournvita, with a new improved taste, last year, in line with consumers’ tastes and preferences. Feedback from consumers indicates that the new Bournvita has gained wide acceptance.
“Cadbury Hot Chocolate 3-in-1 brand, our treat portfolio, recorded substantial growth, driven by its unique offering, while our gum and candy brands also recorded success in their respective categories. In addition, we sustained our current price competitiveness, and increased our Route-to-Market coverage/footprint in 2018.”
Moves made so far to fulfill this pledge includes the company’s recent increase in its dividend payment to its shareholders. It increased from 16 kobo in 2017, to 25 kobo per share in 2018, amounting to N471 million.
Note that Nairametrics had reported in March 2019 that the company appointed Mrs. Oyeyimika Adeboye as its first female Managing Director
Meanwhile, the National Coordinator of the Progressive Shareholders Association of Nigeria, Boniface Okezie has responded positively to the development on behalf of the shareholders. He, however, urged the company to work towards manufacturing its Hot Chocolate 3 in 1 in Nigeria instead of importing from Ghana. This, he said, would help to create more job opportunities for Nigerians.
Cadbury Nigeria Plc is a food, sweets, and drink company headquartered in Lagos. Its stock is traded on the Nigerian Stock Exchange (NSE). The firm’s major products are Bournvita and TomTom, while others include Cadbury Eclairs, Malta sweets, Trebor and Peppermint original.
The company currently trades at N10.95 on the floor of the NSE.
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