Unilever Nigeria, a manufacturer and marketer of consumer products has approved to pay its shareholders N4.31 billion dividend payment at 75 kobo per share for the 2023 financial year.
The firm recorded an after-tax profit of N16.4 billion in 2023 from N5.4 billion in 2022 while revenue increased by 51.3 percent to N103.9 billion from N68.6 billion.
Shareholders approved the dividend at 75 kobo per share, an increase from the 25 kobo declared in 2022 during the company’s 99 Annual General Meeting, which was held in Lagos.
Micheal Ikpoki, the acting chairman of the board of directors at Unilever Nigeria, while speaking at the Annual General Meeting, expressed appreciation to all shareholders for their support throughout the year despite the challenging environment in the last year.
“Our resolve as a business is to continue to take strategic decisions that will improve our operational efficiencies to meet citizens’ needs through our brands, our people, and our operations,” he said.
Tim Kleinebenne, managing director of Unilever Nigeria said, “The achievement in the year under review is reflective of a collaborative effort from all key stakeholders and improved operational performance and greater investment in our brands, supply, and distributions, to ensure we meet the needs of consumers across channels.
“We are pleased with the results for 2023. It speaks to the impact of the strategic choices we make daily about our operations to better serve the consumers with our best locally produced brands that contributes to improving their health and hygiene.
“We have reached a 100-year milestone in Nigeria in 2023 and becoming the longest serving manufacturing company in Nigeria, the company remains committed to staying in Nigeria for the next 100 years plus.
“We believe in Nigeria and reaffirm our position that the opportunities are more than the challenges. With our resilience, agility, partnership, and commitment of the government on the ongoing reforms through strategic choices, policy formulation and implementation, gradually a better Nigeria will emerge.” Kleinebenne said.
