By Peter Egwuatu
Shareholders of Unilever Nigeria Plc have unanimously approved the 50 kobo per share dividend proposed by its Board of Directors.
The shareholders at the Company’s Annual General Meeting, AGM also approved the financial statement for the financial year ended December 31, 2021 among other resolutions.
The revenue of the company increased by 35 percent to N70.5 billion from N52.2 billion the previous year. Profit before tax was N1.9 billion, compared to a loss of N4.5 billion in 2020. Profit after tax was N0.7 billion, up from a loss of N3.8 billion in the previous year.
Addressing shareholders at the 97th AGM of the Company, the Chairman of the Board, His Royal Majesty, Nnaemeka Achebe commended the shareholders for their trust and loyalty to the company, despite the challenging business environment in the last two years.
Speaking on the results, Achebe said, “Despite the challenges faced, our operational discipline on secondary sales, trade debt, overdue, and cash management has driven the right kind of growth in 2021 as we continued to see growth coming back to the business.”
In his remarks, Mr. Carl Cruz, Managing Director, Unilever Nigeria Plc, stated that the considerable improvement in the 2021 financial statements is a direct outcome of the Company’s management commitment to reaching new heights.