UNILEVER 99 AGM: Shareholders Praise Revenue Surge, Back N75k Dividend Per Share

UNILEVER 99 AGM: Shareholders Praise Revenue Surge, Back N75k Dividend Per Share

At the 99th Annual General Meeting of Unilever Nigeria PLC, a stellar lineup of executives, including the Interim Chairman Michael Ikpoki, Managing Director Tim Kleinebenne, and other directors, gathered to celebrate the company’s achievements.

The company declared a dividend of N4,308,753,750 for the fiscal year ending December 2023, reflecting a remarkable 51.3% revenue growth to N103.9 billion compared to the previous year’s N68.6 billion.

Shareholders enthusiastically approved a dividend of 75 kobo per share, a significant increase from the 25 kobo declared in 2022, underscoring their confidence in the company’s leadership and growth trajectory.

Unilever Nigeria PLC also reported a substantial rise in profit after tax, soaring from N5.4 billion in 2022 to N16.4 billion in the review year.

Addressing shareholders at the AGM, Acting Chairman Michael Ikpoki expressed gratitude for their unwavering support despite the challenging operating environment. He assured shareholders of the board and management’s commitment to driving growth amidst uncertainties.

Managing Director Tim Kleinebenne attributed the company’s success to collaborative efforts, enhanced operational performance, and increased investment in brands, supply, and distribution networks. He emphasized the strategic decisions guiding the company’s operations, aimed at meeting consumer needs with locally produced brands.

Kleinebenne highlighted Unilever’s centennial milestone in Nigeria in 2023, marking a century of service as the country’s longest-serving manufacturing company. He reaffirmed Unilever’s belief in Nigeria’s potential and commitment to navigating challenges with resilience, agility, and strategic partnerships.

With a long-term perspective and confidence in Nigeria’s future, Unilever remains dedicated to contributing to the nation’s growth through impactful initiatives, partnerships, and continuous innovation.