BABAJIDE OKEOWO
Shareholders at the 94th Annual General Meeting, AGM of Unilever Nigeria Plc have commended the company’s management for their commitment to growth as the company declares an N8.62 bn dividend. The shareholders did not hesitate in giving their approval for the declared sum, even as they charged the management to remain focused despite the challenging economic landscape in Nigeria. The dividend translates to a dividend payout of N1.50 kobo gross per share.
Turnover from continuing operations increased by 9 percent from N85.2bn in 2017 to N92.9 bn in 2018, while Profit After Tax for the year ended 2018 improved significantly by 42 percent to N10.55 bn compared to N7.45 bn reported for the year ended 31 December 2017.
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Addressing the shareholders at the meeting, the Chairman of the Board, His Royal Majesty Nnaemeka Achebe, said Unilever Nigeria has again demonstrated business resilience. He asserted that the company’s performance shows its commitment to ensuring shareholders get returns on their investments.
“The company’s performance for the year ended 31 December 2018 shows impressive growth and resilience. Despite the economic challenges, we have remained focused on our short and long-term growth ambitions with a strong emphasis on operational intensity, cost optimization, growing market share across key categories as well as reinvesting in our business.” Achebe said.
