Nestle declares N28.1 billion as final dividend for 2020
Nestle Nigeria Plc, the fast-moving consumer goods manufacturer, has announced the payment of N28.1 billion to its shareholders as the final dividend for 31st December 2020.
According to the announcement published by the company on the website of the Nigerian Stock Exchange, Nestle is expected to pay a final dividend of N35.50 per share for all the outstanding 792,656,252 ordinary shares of the company.
This brings the total dividend payout to qualifying shareholders to N28.14 billion. The final dividend will be paid electronically to shareholders on the 23rd of June, 2021, subject to appropriate withholding tax and approval at the Company’s Annual General Meeting.
Shareholders whose names appear on the registrar of members as of 21st of May, 2021 will be considered.
Qualifying Shareholders must have completed the e-dividend registration and must have mandated the Registrar (Greenwich Registrars) to pay their dividends directly into their bank accounts.
In line with this, the register of shareholders will be closed from 24th of May to 28th May 2021, to enable the registrar to process the dividends of Nestle’s shareholders.
Nestle paid an Interim dividend of N25 per share to shareholders towards the end of 2020. It is important to note that the addition of this to the final dividend of N35.5 puts Nestle’s total dividend for 2020 at N60.5 per share. This is 13.57% lower than the total dividend payout for 2019 (N70 per share).
Nestle declared in its audited financial statement for 2020, that it made a profit before income tax of N60.6 billion in 2020, indicating a decline of 14.74%, when compared with 2019 figures.
The company’s earnings per share (EPS) during the period under review was N49.47, 14.16% lower than 2019 EPS.
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