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Nestle to pay N19.8bn interim dividend amid Q3 profit of N33.6bn

…Nigeria’s equities market opens week in green

Nestle Nigeria Plc has announced an interim dividend of N25 per share which will be paid to shareholders whose names appear on the register of member as at close of business on November 19.

The proposed interim dividend for the period ended September 30, 2021 amounts to N19.8billion. Nestle Nigeria has 792,656,252 shares outstanding –currently held by all its shareholders.

Apart from Societe Des Produits Nestlé S.A, Switzerland, with 524,559,457 ordinary shares (representing 66.18percent) and Stanbic IBTC Nominees Limited with 5.59percent, no other shareholder held 5percent or more of the paid-up capital of the Company as at September 30, 2021.

Nestlé Nigeria Plc unaudited financial statements for the period ended September 30, 2021 shows revenue of N261.591billion as against N212.732billion in 2020, up 23percent.

Profit before income tax increased by 5 percent to N51.584billion from N49.261billion in 2020; while profit for the period rose to N33.584billion from N31.937billion, up 5 percent.

Read also: Stanbic IBTC launches ‘stockbroking zero’

At N1, 405 per share as at close of trading on Monday October 25, 2021, its market cap stood at N1.113trillion. Nestle stock price has decreased by 6.6 percent this year.

Nigeria’s equities market opened this week in green as investors expectedly continued their bargain hunt in favour of value counters.

In 5,432 deals, investors exchanged 674,498,620 shares valued at N7.591billion. FBN Holdings, ETI, GTCO and Transcorp were actively traded stocks. Shares of PZ rallied most on the Bourse, from N5.90 to N6.45, up 55kobo or 9.32percent.

The Nigerian Exchange Limited (NGX) All-Share Index and its equities Market Capitalisation appreciated from 41,763.26 points and N21.794trillionthe preceding trading day to 41,814.74 points and N21.821trillion, representing an increase by 0.12percent and about N27billion respectively. The market’s year-to-date (YtD) positive return stood higher at +3.83percent at the close of trading session on Monday.

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