Shareholders Commend Unilever’s Sustained Growth, Approve N1.25 Dividend

Raheem Akingbolu

Unilever Nigeria Plc  has declared a dividend of N7,181,256,771.25 for the year ended December 2024. The declaration follows an impressive growth of N149.5 billion in 2024 which represents 44 per cent topline growth compared to N103.9 billion turnover recorded in the corresponding period in 2023.

 During the Company’s 100 annual general meeting(AGM), shareholders approved the dividend at 125kobo per share, a 66 per cent increase from the 75kobo declared in 2023. The shareholders appreciated this increase and reaffirmed their belief in the leadership of the company to grow the business in the coming year.

The result for the total business shows a net profit of N15.1 billion in 2024 compared to a net profit  of N8.4 billion  in 2023, showing  79 per cent improvement.

Speaking at the AGM, the Chairman of the Board of Directors at Unilever Nigeria Plc, Mr. Bolaji Balogun, appreciated all esteemed shareholders for their support despite the volatility of the operating environment in the preceding year.  

He affirmed that the board and management remained resolutely committed to advancing the company’s strategic growth agenda and adeptly navigating prevailing and emergent challenges, as they steer the organisation toward enduring success and greater accomplishments.

“Our resolve as a business is to continue to take strategic decisions that will improve our operational efficiencies to meet the needs of Nigerians through our brands, our people, and our operations,” he said.

On his part the Managing Director, Unilever Nigeria Plc, Tobi Adeniyi said: “We are pleased with our year-on-year growth trajectory which rides on the pillars of operational efficiency, cost optimisation, purposeful brands and increasing market share across key categories. We remain committed to continually building sustainable relationships with our partners across the value chain and growing our business to enhance our socioeconomic impact across the country.”

The AGM that can be described as one of the best yet for the shareholders, saw many of them commending the consistent performance of the business in the last three years and the appointment of a Nigerian MD after a long time.

 President of the Shareholders Solidarity Association of Nigeria, Chief Timothy Adesiyan,  said: “I am grateful and happy to attend the 100th Annual General Meeting of Unilever Nigeria Plc. The performance of the business has been very good and improving in the last three years. This is reflected in the increased dividends of N1.25 being paid to us the shareholders. Above all, I am proud and happy that the company listened to us and have now appointed a Nigerian as the MD.”

As the longest surviving manufacturing company in Nigeria at over a hundred years, Unilever Nigeria is committed to ensuring continuous investment in Nigeria through its brands and operations. Unilever Nigeria is here to stay for the long haul.”