Shareholders of Unilever Nigeria Plc last Thursday approved a dividend of N378Â million recommendedÂ by the board of directors ofÂ the company forÂ theÂ year endedÂ December 31, 2016. The dividend, which was declared amidst a challenging operatingÂ environment,Â transla
Unilever increased its revenue by 17.8 per cent from N59Â billion recorded in 2015 to N69 billion whileÂ profitÂ after tax (PAT) jumped by 157 per cent from N1.19 billion in 2015 to N3.07Â billion in 2016.
Addressing shareholders at the 92ndÂ annual general meeting (AGM), the Chairman of Unilever Nigeria,Â Igwe NnaemekaÂ Achebe,Â theÂ Obi of Onitsha, said that the companyÂ has once again demonstrated business resilience under very difficult circumstances.Â
HeÂ asserted that the companyâ€™s performance showed its commitment to grantingÂ shareholders returns on their investments.
Â â€œThe companyâ€™s performance for the year ended 31 December 2016 showsÂ sustained Â 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,â€ he said.
Achebe added: â€œEven in this period of economic downturn, Unilever Plc. is dogged about ensuring sustained and steady growth in the companyâ€™s operations to achieve improved returns on investments. We are more resolute than ever to continue to forge ahead despite the business operating environment.
â€œAs 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. We look forward to a better 2017 for our brands and our great company which you are all an important part of.â€
According to him, inÂ line with the companyâ€™s priority, Unilever remains committed to driving returns on investments to shareholders.
â€œHowever, our companyÂ recognisesÂ 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.Â Unilever is a company that cares about humanity and value the environment, through our business practices, we continually demonstrate deep commitment to delivering products that meet the needs and aspirations of our consumers and align with the global goals of making our planet safe, beautiful and sustainable,â€Â the chairman said.