The Board of Directors’ recommendation for a full-year dividend of N4.309 billion, or 75 kobo per share, has been approved by Unilever Nigeria Plc’s shareholders.
The 99th Annual General Meeting (AGM) of the corporation, held in Lagos, was authorized by the shareholders.
In comparison to the 25 kobo the board of directors declared in 2022, the payout represents a 200% increase.
Speaking to shareholders during the AGM, Mr. Micheal Ikpoki, the acting chairman of Unilever Nigeria Plc’s board of directors, thanked each and every one of them for their support over the year despite the difficult circumstances of the previous one.
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He promised that the Board and Management will continue to put in their best in fostering growth and navigating the tides as the Company steers toward more success.
“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,” he said.
On the performance of the business, the Managing Director of Unilever Nigeria Plc, Mr. Tim Kleinebenne said the achievement in the year under review is reflective of a collaborative effort from all key stakeholders and improved operational performance, and greater investment in our brands, supply, and distributions, to ensure we meet the needs of consumers across channels.
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“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 added that Unilever had reached its 100-year milestone in Nigeria in 2023, becoming the longest-serving manufacturing company in Nigeria.,
“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.”Kleinebenne said.
