Unilever holds AGM, increase dividend to 75 kobo per share
By Oluwaseyi Lawal
Unilever Nigeria Plc. has announced a dividend of N4,308,753,750 (Four Billion, Three Hundred and Eight Million, Seven Hundred and Fifty-Three Thousand, Seven Hundred and Fifty Naira) for the year ending December 2023.
This declaration follows a significant revenue growth to N103.9 billion, a 51.3% increase compared to N68.6 billion in 2022.
At the company’s 99th Annual General Meeting held in Lagos, shareholders approved a dividend of 75 kobo per share, up from the 25 kobo declared in 2022. Shareholders welcomed this growth and expressed confidence in the company’s leadership to continue expanding the business in the coming year.
The company’s financial statement shows that profit after tax for the year rose to N16.4 billion from N5.4 billion in 2022. At the AGM, Acting Chairman of the Board of Directors, Mr. Micheal Ikpoki, thanked shareholders for their support despite the challenging environment over the past year. He assured that the Board and Management will continue to strive for growth and navigate challenges as the company moves towards greater successes.
He said, ““Our resolve as a business is to continue to take strategic decisions that will improve our operational efficiencies to meet citizens needs through our brands, our people, and our operations.”
Regarding the company’s improved performance, the Managing Director of Unilever Nigeria Plc, Mr. Tim Kleinebenne, stated that the achievements of the past year result from the collaborative efforts of all key stakeholders. He highlighted enhanced operational performance and increased investment in brands, supply chains, and distribution networks to meet consumer needs across various channels.
“We are pleased with the results for 2023. It speaks to the impact of the strategic choices we make daily about our operations to better serve the consumers with our best locally produced brands that contribute to improving their health and hygiene.” He said.
Kleinebenne also noted that in 2023, Unilever celebrated its 100th year in Nigeria, making it the country’s longest-serving manufacturing company.
Kleinebenne said, “We believe in Nigeria and reaffirm our long term view of the opportunities that outweigh the challenges. With our resilience, agility, partnership, and commitment of the government on the ongoing reforms through strategic choices, policy formulation and implementation, gradually a better Nigeria will emerge.”
The National Finance Director of Unilever Nigeria Plc, Folake Ogundipe, stated on her official LinkedIn page, “At the 99th AGM held recently, we shared our remarkable success, with a 51.3% increase in revenue compared to the previous year. This performance underscores our unwavering commitment to excellence and Customer satisfaction. One of the highlights of this year’s AGM was the rise in dividend, from 25 kobo to 75 kobo, as declared in 2022.”
“The improvement in our business performance is a testament to the dedication and collaborative efforts of all our stakeholders, especially our employees.”
Unilever ranks among the top global suppliers of Beauty, Wellbeing, Personal Care, Home Care, Nutrition, and Ice Cream products, with a presence in over 190 countries and a daily user base of 3.4 billion people. Unilever Nigeria, a locally listed entity, has been in operation for 100 years, offering brands like Knorr, Vaseline, Closeup, Pepsodent, Royco, and Pears.
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