Unilever Nigeria Declares N378m Dividend
By Dipo Olowookere
The board of Unilever Nigeria Plc has declared a dividend of N378 million for the year 2016 after shareholders of the firm approved this at its 92nd Annual General Meeting (AGM) held in Lagos on Thursday.
Chairman of the Board of Directors, Mr Nnaemeka Achebe, who doubles as the Obi of Onitsha, expressed satisfaction with performance of the firm last year.
According to him, Unilever Nigeria Plc has again demonstrated business resilience under very difficult circumstances.
“The company’s performance for the year ended December 31, 2016 shows sustained growth and resilience even under depressed economic conditions.
“Although Unilever Nigeria has not been insulated from the tough economic environment, we have remained focused on our short and long term growth ambitions with strong emphasis on operational intensity, cost efficiencies, growing market share across key categories as well as reinvesting behind our iconic brands,” the Mr Achebe said at the event.
He noted that, “Unilever Nigeria Plc remains committed to driving returns on investments to shareholders.”
“However, our company recognizes that these are unusual times and prudence demands that we should continue to plough back into the business in the short term in order to secure a sustainable future,” he added.
While looking forward to a better 2017, the Chairman said, “As a company, we will continue to appreciate the resilience and unwavering commitment of all our stakeholders; shareholders, dynamic employees, loyal consumers, dedicated suppliers and other business partners for their unflinching support through these challenging times.”