Cadbury Nigeria Shareholders to Receive 49kobo Dividend Per Share

Goddy Egene

Shareholders of the Cadbury Nigeria Plc will receive a dividend of 49 kobo per share on June 25, 2020 after approval at the annual general meeting(AGM). The dividend is for the 2019 financial year ended December 31.

In a notification to the Nigerian Stock Exchange (NSE), Cadbury Nigeria, which is a leading food and beverages firm, said the dividend would be paid to shareholders whose names appear in the register of members as at the close of business on the May 22, 2020.

According to the company, its AGM will hold by proxies at its premises in Ikeja, Lagos, where shareholders would approve the dividend and other proposals.

Cadbury Nigeria posted a revenue of N39.3 billion for the year ended December 31, 2019, showing an increase of nine per cent compared with N35.9 billion achieved in 2018. Gross profit was N8.32 billion as against the N7.95 billion posted in 2018, indicating a growth of five per cent.

Profit before tax (PBT) rose 26 per cent from N1.54 billion to N1.7 billion, while profit after tax (PAT) grew faster by 30 per cent to N1.07 billion, compared with N823 million in 2018.

The company has started 2020 on brighter note, posting a growth of 26 per cent in PAT in the first quarter (Q1) ended March 31. Cadbury Nigeria Plc reported a revenue of N8.553 billion and PAT of N639 million in Q1 2020.

Cadbury recorded no finance cost for the period under review, a development that pushed profit before tax substantially to N913 million compared to N724 million the corresponding period of 2019. PAT grew by 26.04 per cent from N507 million to N639 million in 2020.