By NKIRUKA NNOROM

Shareholders of Nestle Nigeria Plc will have their final dividend for the year ended December 31, 2014 slashed by 27 percent, if the amount being proposed by the Board of Directors is approved at the next Annual General Meeting, AGM, in three months’ time.

The Board of Directors of the company is proposing N13.87 billion as dividend for the period, which is 27 percent decrease over N19.023 billion paid in the corresponding period in 2013.

However, the final dividend dividend along with the interim dividend of N7.926 billion paid earlier in the year amounted to a total dividend of N21.798 billion. This represented eight percent increase over N20.212 billion paid in the previous year.

According to a filing with the Nigerian Stock Exchange, NSE, only shareholders whose names appear on the register of members as at close of business on Friday, 24 April 2015, will benefit from the dividend payment.