Unilever Nigeria to Pay Shareholders N2.9b Dividend May 11

By Dipo Olowookere

The board of directors of Unilever Nigeria Plc  has announced that the N2.9 billion approved for payment of dividend to shareholders of the company would be paid on Friday, May 11, 2018.

The board had last month proposed the payment of 50 kobo gross per share as dividend for the year ended December 31, 2017.

This was when the leading Dutch transnational consumer goods company released its 2017 financial figures.

In a statement issued yesterday, the board said it would pay the dividend if approved by shareholders at this year’s Annual General Meeting (AGM).

However, the company announced that the closure of register of members for the purpose of preparation of dividend payment would be on Monday, April 16, 2018 to Friday, April 20, 2018 (both dates inclusive).

The statement said the dividend qualification date is Friday, April 13, 2018.

In the financial results, the firm increased its profit for the year by 143 percent, closing at N7.5 billion in 2017 versus N3.1 billion in 2016.

Its profit before tax also saw a broad growth of 173 percent, finishing at N11.2 billion in the period under review compared with N4.1 billion in the corresponding period of 2016.

According to the financial statements, the revenue generated by the company appreciated by 30 percent to N90.8 billion as at December 31, 2017 from N69.8 billion achieved as at December 31, 2016.

The gross profit of the firm stood at N28.9 billion as at December 31, 2017 versus N20.3 billion as at December 31, 2016.

In addition, its operating profit finished at N12.9 billion in the period under review compared with N5.8 billion in 2016.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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