Nestle Shareholders Approve N18.50 Dividend

10 May 2013

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Chairman of Nestle Nigeria Plc, Chief Olusegun Osunkeye

The shareholders of Nestle Nigeria Plc Thursday approved the dividend of   N18.50  per share declared for the financial year ended December 31, 2012. Directors of Nestle had   recommended an interim dividend of N1.50 per share, which had already been paid before the final dividend of N18.50, bringing the total dividend for the year to N20 per share.

Highly delighted shareholders of the company approved the final dividend at the 44th Annual General   Meeting (AGM) of the company held in Lagos and  commended  the board and management  for the impressive performance.

Addressing the shareholders,  the  Chairman of the company,  Chief Olusegun Osunkeye said the company recorded a turnover of N116.7 billion in 2012, showing an increase of 19 per cent above the N97.9 billion in 2011. Profit after tax, he added, rose by 28 per cent from N16.49 billion to N21.13 billion.

According to him, the  results reflect the effort of the company to deliver improved top and bottom-line performance whilst investing in brand improvement, sustainably expanding manufacturing footprint, and continuing to reduce the environmental impact of Nestlé’s business.

Osunkeye said the company’s proven ability to bring innovative products and services to consumers allows Nestlé to deliver in the short term while at the same time creating the right conditions for continued success over the long term. He assured the shareholders that the company would continue to keep its brand consumer-relevant and competitor-differentiated.

Looking forward, the chairman  also assured shareholders that the company would continue to take advantage of the many new and varied opportunities in Nigeria to leverage her competitive edge, deliver on growth opportunities and benefit from drive for continuous improvement across the company Osunkeye announced his   retirement from the board of directors of Nestlé   after 40 years of meritorious service to the company, disclosing that Mr. David Ifezulike, one of the non-executive directors, has been appointed to replace him as  the new chairman.

Tags: Business, Nigeria, Featured, Nestle

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