• Tuesday, May 28, 2024
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Nestle shareholders get N20 as dividend as Osunkeye bows out


Shareholders of Nestle Nigeria Plc, the leading nutrition, health and Wellness Company have smiled home with a N20 dividend payout following strong growth achieved by the firm in the financial ended December 31, 2012.

The company declared a final dividend of N18.50k per 50k ordinary share further to the interim dividend of N1.50k per share already paid, making a total dividend of N20 per ordinary share. This represents a payout of 75 percent.

“Nestle has done us proud. The dividend you are paying today is the highest in the history of the company and history of the industry. You have bitten all competitors. We are very proud of you”, Oversea Oguntoye, one of the shareholders said at the 44th annual general meeting in Lagos.

The company recorded a turnover of N116,707 billion, representing an increase of 19 percent compared to N97,961 recorded in the previous year.

Olusegun Osunkeye, chairman of the company said the results reflected the effort of the company to deliver improved top and bottom line performance whilst investing in brands improvement, sustainably expanding manufacturing footprint, and continuing to reduce the environmental impact of Nestle’s business.

According to him, the company’s proven ability to bring innovative products and services to consumers allows Nestle to deliver in the short term while at the same time creating the right conditions for continued success over the long term.

Speaking at the AGM, he said Nestle believe that the long-term financial and economic success of a company can only be achieved and assured if it accompanied by the creation of value for the communities.

To underline the company’s commitment to sustainability, the chairman used the occasion to launch the first sustainability report from Nestle Nigeria titled ‘Nestle in Society: Creating Shared Value Report 2012.