Unilever Proposes to pay as Dividend to it's shareholders, 84% of it's profit for the Former Year

Unilever Nigeria Plc is a publicly listed company with a trading and manufacturing interest in the consumer goods market. In 2014, it was listed among the top 20 most valuable companies quoted on the Nigerian Stock Exchange. Unilever Nigeria PLC is a subsidiary of Unilever Overseas Holding B.V. The Company's segments are Food Products, Home Care, and Personal Care products. Its Foods Products segment includes the sale of tea, savory and spreads.

Unilever Nigeria PLC was founded in 1923 and its headquarters is in Lagos Nigeria.

Unilever Nigeria Plc has proposed a dividend payment of N0.50 kobo per 50 kobos ordinary share for the financial year ended 31 December 2021. The dividend amounts to N2.87 billion, 84% of the company’s total profit for the year, N3.41 billion.

This dividend payment will be liable to shareholders’ consent at the Annual General Meeting (AGM) and applicable withholding tax.

According to the disclosure catalog with the Exchange (NGX), shareholders are to make sure their names are registered in the Register of Members by the qualification date of April 14, 2022.

On Friday, May 6, 2022The dividend which sums up to N2.87 billion will be paid electronically to ordinary shareholders whose names are on the Register of Members as of Thursday, April 14th, 2022, and those who have completed the e-dividend registration and mandated by the Registrar to pay their dividends directly into their bank accounts.

The company’s registrar is Greenwich Registrars and Data Solutions Ltd and the e-dividend mandate form can be downloaded or filled online on the registrar’s website.

Unilever Nigeria Plc has 5,745,005,417 outstanding shares and a market capitalization of N76.41 billion at the time of filing this report. The company’s shares opened trading on the 5th of April, 2022 at N13.30 per share and closed at N13.30 per share.

What you need to know

●         Unilever Nigeria Plc had released its Audited 2021 financial results earlier, for the period ended 31 December 2021, reporting a profit (after continuing operations) of N688 million, from a loss position of N3.76 billion year on year. Revenue of N70.52 billion was reported in the full-year period compared to N52.21 billion in the same period of 2020, representing a 35% increase.

●         Earnings per share were recorded as N0.63 kobo against N0.59 kobo recorded in the corresponding period of 2020.

●         Year-to-date, the company’s shares have declined by 8.28% from N14.50 at the beginning of the year to N13.30 at the time of writing this report.