Nestle Nigeria Plc. rewards shareholders
By: Nsikan Ikpe
Nestle Nigeria Plc, one of the leading manufacturing companies in Nigeria has rewarded its shareholders for their continued support for the company even as it expressed its commitment to continually generate sustainable returns to all investors and stakeholders.
This is even as several shareholders of the company are soliciting for bonus shares in addition to dividends to enhance shareholders growth and to practically demonstrate the ‘creating shared values’ policy of the company.
The company, which had earlier paid an interim dividend of N20 per share has now finally paid N38.50 kobo per share on every ordinary 50 kobo share, and bringing the total dividend payment to N58.50 kobo per share for the year ended December 31st, 2018.
Speaking at the 50th Annual General Meeting of Nestle Nigeria Plc which was held in Lagos recently, the Chairman, Mr. David Ifezulike, said 2018 was a year of significant results in spite of the economic challenges in the country, stressing that the overall national economic activity remained relatively weak, and particularly so in the fourth quarter of 2018. This was after the slight increase in the tenor of activities in the third quarter of the year that analysts say was occasioned by higher oil production and sales numbers.
Still on an upbeat note, Ifezulike further assured shareholders of the company that the board and management of the firm would continue to ensure that “Nestlé’s brands remain leaders despite the influx of competing brands in the market”.
On the financial performance for the year ended 2018, the company posted a revenue of N266.3 billion, indicating a 9.1 per cent growth over the outcome recorded in the 2017 financial year. Gross profit for the year stood at N113.9 billion compared to N100.9 billion recorded in 2017.
In his speech, the Managing Director, Nestle Nigeria, Mr. Mauricio Alarcon, expressed optimism on the impressive financial performance of the company, saying that “we are pleased with our 2018 results considering the increasingly competitive business environment,”.
“We will continue to create and generate sustainable returns for the benefit of shareholders. We will focus on leveraging our capacities to deliver value to our consumers and our shareholders and as well contribute to the development of the local economy and to improve the quality of living within our communities.”