Unilever Nigeria Plc has declared a dividend of N189.2m following its approval by the company’s shareholders at the 91st Annual General Meeting held in Lagos.

The dividend payout translates to a dividend payout of 5 kobo per ordinary share to the shareholders.
In the year ended 2015,the company increased its revenue by 6.2 per cent from N55.7bn in 2014 to N59.2bn as profit after tax stood at N1.2bn compared to N2.4bn recorded in 2014.

Speaking on the performance of the company in the 2015 financial year, its Chairman, Board of Directors, and the Obi of Onitsha, Chief Nnaemeka Achebe, told shareholders that Unilever Nigeria had once again demonstrated business resilience under difficult circumstances.

He said, “Without an iota of doubt, 2015 was a very challenging year for businesses in Nigeria, particularly within the manufacturing sector. Notwithstanding this fact, Unilever remains committed to delivering returns to its shareholders.

“Our company’s performance demonstrates our entrenched values of creating a brighter future for stakeholders and for our consumers through brands that make them feel good, look good and get more out of life.”
Achebe said even in this period of economic downturn, the firm planned to continue to invest heavily in its factories, people, processes and brands in order to build the needed capabilities to win into the future.

“As a company, we will continue to appreciate the resilience and unwavering commitment of all our stakeholders – dynamic employees, loyal consumers, dedicated suppliers and other service providers for their unflinching support through these challenging times,” he said.

In line with its priority, Unilever Nigeria said it remained committed to ensuring a sustained and steady growth in the company’s operations to achieve better return on investments.
Already, in the first quarter of 2016, the manufacturer admitted that it had recorded growth in turnover and bottom-line.

It said it had recorded a 12.5 per cent increase in turnover to the tune of N16.8bn in the first quarter of 2016. Its profit after tax also grew by 76 per cent to N1.04bn for the first quarter ended March 31, 2016 compared to the N590bn recorded in the corresponding period of 2015.

Achebe said, “Although the challenges in the operating environment are yet to ease, we have continued to see momentum behind recent initiatives taken by management. We will continue to focus on driving cost efficiencies, growing market share across key categories and reinvesting behind our brands to ensure we satisfy all our stakeholders across board.”