Shareholders of Unilever Nigeria Plc will receive a dividend of N4.309 billion for the financial year ended December 2023, representing a total dividend of N0.75 kobo per share declared by the Board of Directors of the company.
The Board of Directors of Unilever Nigeria Plc has in pursuant to the powers vested in it by the provisions of section 426 of the Companies and Allied Matters Act (CAMA 2020) of Nigeria recommended a dividend of 75 kobo per share for the financial year 2023.
This was contained in the company’s corporate action announcement to the Nigerian Exchange Limited (NGX) and obtained by the Nairametrics.
Subject to shareholders approval: According to the company, the dividend is subject to the appropriate withholding tax and will be paid to shareholders whose names appear in the Register of Members as at the close of business on n Friday 26, April 2024.
This will be presented at the next Annual General Meeting for Shareholders ratification and approval.
The statement signed by the company noted that on 10 May 2024, cash dividend will be paid electronically to shareholders (Qualifying Shareholders) whose names appear on the Register of Members as at close of business on 26 April 2024, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.
Advice to shareholders: Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Activation Form, which is also available on the website of the Registrars.
Shareholders with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment or returned for validation are also advised to complete the e-dividend registration or contact the Registrar.
Financial performance
Nairametrics reported that Unilever Nigeria posted a pre-tax profit of N21.9 billion in 2023, representing a 151% growth from the N8.7 billion posted in 2022.
According to the company’s audited financial statements for 2023, it recorded a revenue N103.9 billion, representing a 51.3% growth from the N68.6 billion posted in 2022.
The company’s profit after tax in 2023 was put at N16.4 billion, marking a 205% increase from the N5.4 billion posted in 2022.
However, with the discontinuation of certain operations, the company incurred a loss of N8.0 billion, thus taking its net profit for the year to N8.4 billion.
During the year, the group’s nutrition products generated N63.3 billion in revenue, while personal care products generated N33.1 billion in revenue. The group’s discontinued home care operations generated N10.5 billion in revenue in 2023.