By Bakare Alidada
Unilever Nigeria Plc has declared a total dividend of N7.18 billion for the year ending in December 2024.
The declaration follows a growth of N149.5 billion in 2024, which represents 44 per cent top-line growth compared to N103.9 billion recorded in the corresponding period in 2023.
During the company’s 100 yearly general meeting, shareholders approved the dividend of 1.25 kobo per share, a 66 per cent increase from the 75 kobo paid in 2023.
The shareholders appreciated the increase and reaffirmed their belief in the leadership of the company to grow the business in the coming year.
The result for the total business shows a net profit of N15.1 billion for the period ending on 31st December 2024, compared to a net profit for the corresponding period in 2023 of N8.4 billion, which is a 79 per cent improvement in the current year versus 2023.
Speaking at the AGM, the Chairman of the Board of Directors at Unilever Nigeria, Bolaji Balogun, appreciated esteemed shareholders for their support despite the volatility of the operating environment in the preceding year.
He affirmed that the board and management remained resolutely committed to advancing the company’s strategic growth agenda and adeptly navigating prevailing and emergent challenges, as they steer the organisation toward enduring success and greater accomplishments.
“Our resolve as a business is to continue to take strategic decisions that will improve our operational efficiencies to meet the needs of Nigerians through our brands, our people and our operations,” he said.
The Managing Director of the company, Tobi Adeniyi, said: “We are pleased with our year-on-year growth trajectory, which rides on the pillars of operational efficiency, cost optimisation, purposeful brands and increasing market share across key categories. We remain committed to continually building sustainable relationships with our partners across the value chain and growing our business to enhance our socioeconomic impact across the country.”
