Shareholders of Unilever Nigeria plc at its 94th Annual General Meeting (AGM) commended the company’s management for their commitment to growth as the company declared and got approval to pay N8.62billion dividend.
The shareholders did not hesitate in giving their approval for the dividend payment, even as they charged the management to remain focused despite the challenging economic landscape in Nigeria. The dividend translates to N1.50 kobo per share.
Unilever Nigeria plc recorded turnover from continuing operations increased by 9 percent from N85.2billion in 2017 to N92.9 billion in 2018. Profit After Tax for the year ended 2018 improved significantly by 42 percent to N10.55 billion compared to N7.45 billion reported for the year ended December 31, 2017.
The shareholders at the meeting received the company’s audited financial statement for the year ended December 31, 2018 together with the reports of the directors, auditors, and audit committee thereon.
Addressing the shareholders at the meeting, Nnaemeka Achebe, chairman, Unilever Nigeria plc said the company has again demonstrated business resilience. He asserted that the company’s performance shows its commitment to ensure 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 strong emphasis on operational intensity, cost optimization, growing market share across key categories as well as reinvesting in our business.” Achebe said.
Achebe added that Unilever will continue to appreciate the unwavering commitment of its stakeholders; shareholders, employees, suppliers and citizens for their unflinching support over the years.
“We look forward to a better 2019 for our business with improved operating environment that will enable us impact the society positively through our operations. Our commitment to continue to contribute to a fairer and socially inclusive world, improve health and well-being and improve health of the planet remains resolute,” said Achebe.