Unilever Nigeria Plc. has declared a substantial dividend of N4,308,753,750 (Four Billion, Three Hundred and Eight Million, Seven Hundred and Fifty-Three Thousand, Seven Hundred and Fifty Naira) for the fiscal year ending December 2023.
This announcement comes on the heels of an impressive revenue increase to N103.9 billion, marking a 51.3% rise from the N68.6 billion recorded in 2022.
At the company’s 99th Annual General Meeting held in Lagos, shareholders approved the dividend at 75 kobo per share, a significant increase from the 25 kobo declared in the previous year. Shareholders expressed their satisfaction with the growth and reaffirmed their confidence in the company’s leadership.
According to Unilever Nigeria’s financial statement, the profit after tax for the reviewed year surged to N16.4 billion, up from N5.4 billion in 2022.
Speaking at the AGM, Acting Chairman of the Board of Directors, Mr. Michael Ikpoki, thanked shareholders for their unwavering support amid challenging conditions over the past year.
He assured them that the Board and Management would continue to strive for growth and successfully navigate future challenges.
“Our resolve as a business is to continue making strategic decisions that enhance our operational efficiencies to meet citizens’ needs through our brands, our people, and our operations,” Ikpoki stated.
Reflecting on the company’s improved performance, Managing Director of Unilever Nigeria Plc, Mr. Tim Kleinebenne, attributed the success to collaborative efforts from all key stakeholders, improved operational performance, and increased investment in brands, supply, and distribution channels.
He emphasized that these efforts ensure Unilever meets consumer needs across various platforms.
“We are pleased with the results for 2023. They reflect the strategic decisions we make daily about our operations to better serve consumers with our locally produced brands that contribute to improving health and hygiene,” Kleinebenne said.
He also highlighted that 2023 marked Unilever’s 100-year milestone in Nigeria, making it the longest-serving manufacturing company in the country.
Kleinebenne also said,
“We believe in Nigeria and reaffirm our long-term view of the opportunities here that outweigh the challenges. With our resilience, agility, partnerships, and the commitment of the government to ongoing reforms through strategic choices, policy formulation, and implementation, a better Nigeria will gradually emerge.”
