Nestle Nigeria Shareholders to Get N36.50 Dividend on Each Share

A final dividend payment to shareholders in the amount of N36.50 per share has been declared by Nestle Nigeria Plc for the financial year that ended on December 31, 2022. 

The company's sales increased by 27% from the previous year, and at the same time, the company's profit position improved. 

The revenue of the food producer (Nestle) was printed at N446.8 billion in a statement that was released on Wednesday the 1st of March 2023 in Lagos State. The statement was signed by its Corporate Communications and Public Affairs Manager, Mrs. Victoria Uwadoka. "This is an increase from the N351.8 billion that was achieved in  2021," she said.

According to the audited figures Nestle Nigeria reported to the Nigerian Exchange in 2022, the company's earnings after tax increased to N48.9 billion from N40 billion in 2021, showing an increase of 22.3% from the previous year.

"The board of directors at Nestle Nigeria Plc proposed an extra dividend of N36.50k, in addition to the N25 per share interim dividend that was already paid in December 2022, bringing the total dividend per share for 2022 to N61.50k."

It said that the company's Annual General Meeting, which is scheduled to take place on May 17, 2023, would be the venue where the proposed final dividend will be put up for vote. Wassim Elhusseini, the Managing Director of the firm, was described in the release as stating that the increase was due to the unshakable devotion, dedication, and innovation of its personnel.

According to him, this was evidence that the organization was designed with success in mind from the beginning and that by cooperating with one another, they could flourish and even exceed in the most challenging of conditions. Elhusseini promised that the firm will continue to assure the provision of reasonably priced nourishment in 2023 for people and families who rely on the company to provide daily sustenance for their family.

"We are aware that it will be a difficult year, what with the general elections and the heated political atmosphere that goes along with them, as well as the interruptions in economic activity that have been experienced as a result of the shift in certain denominations of the Naira.

In addition to this, we are challenged by the rising cost of doing business, most notably the high cost of inputs; as a result, we must ensure that our company processes are both adaptable and robust.

Also in the statement, he said, "our focus will be the wellness of our employees, our customers, our communities, and our planet as they work to unlock the potential of food to improve the quality of life for everyone now and for generations to come."