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Unilever holds 94th AGM, declares N8.62 billion dividend

Shareholders at the 94th Annual General Meeting (AGM) of Unilever Nigeria Plc have commended the company’s management for their commitment to growth as the company declares a N8.62 bn dividend. The shareholders did not hesitate in giving their approval for the declared sum, even as they charged the management to remain focused despite the challenging economic landscape in Nigeria. The dividend translates to a dividend payout of N1.50 kobo gross per share.

L-R: Chairman, Board of Directors, His Majesty, Nnaemeka Achebe CFR MNI; Managing Director, Mr. Yaw Nsarkoh and Executive Director and Vice President Finance, Mrs. Adesola Sotande-Peters during the Unilever Nigeria Plc 94th Annual General Meeting.

Turnover from Continuing operations increased by 9 per cent from N85.2bn in 2017 to N92.9 bn in 2018. Profit After Tax for the year ended 2018 improved significantly by 42 per cent to N10.55 bn compared to N7.45 bn reported for the year ended 31 December 2017.

L-R: Chairman, Board of Directors, His Majesty, Nnaemeka Achebe CFR MNI; Managing Director, Mr. Yaw Nsarkoh; Executive Director and Vice President Finance, Mrs. Adesola Sotande-Peters and Non-Executive Director, Mr. Chika Nwobi during the Unilever Nigeria Plc 94th Annual General Meeting

Addressing the shareholders at the meeting, the Chairman of the Board, His Royal Majesty Nnaemeka Achebe, said Unilever Nigeria has again demonstrated business resilience. He asserted that the company’s performance shows its commitment to ensure shareholders get returns on their investments.

L-R: Non-Executive Director; Mrs. Abiola Alabi; Non-Executive Director, Mr. Atedo Peterside CON; Independent Non-Executive Director, Mr. Mutiu Sunmonu CON, FNSE and General Counsel Ghana-Nigeria & Company Secretary, Mrs. Abidemi Ademola during the Unilever Nigeria Plc 94th Annual General Meeting

“The company’s performance for the year ended 31 December 2018 shows impressive growth and resilience. Despite the economic challenges, we have remained focused on our short and long-term growth ambitions with strong emphasis on operational intensity, cost optimization, growing market share across key categories as well as reinvesting in our business.” Achebe said.

Achebe added that Unilever will continue to appreciate the unwavering commitment of its stakeholders; shareholders, employees, suppliers and citizens for their unflinching support over the years.

“We look forward to a better 2019 for our business with improved operating environment that will enable us impact the society positively through our operations. Our commitment to continue to contribute to a fairer and socially inclusive world, improve health and wellbeing and improve health of the planet remains resolute.” Said Achebe.

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