Unilever’s Shareholders Approve 75kobo Dividend, Commend 2023FY Performance

Kayode Tokede

shareholders of Unilever Nigeria Plc yesterday in Lagos approved 75 kobo per share dividend payout for the 2023 financial year, as against 25 kobo declared in 2022.

The declared dividend is estimated at N4.31 billion for the year ended December 2023. The declaration follows an impressive growth in revenue of N103.9 billion in 2023, representing a 51.3per cent growth compared to N68.6 billion recorded in 2022. 

During the Company’s 99th Annual General Meeting (AGM), which was held in Lagos, the shareholders appreciated the growth and reaffirmed their belief in the leadership of the company to grow the business into the coming year. 

According to the 2023 financial statement, the household company’s profit after tax stood at N16.4 billion in 2023, a growth of 205.2 per cent from N5.4 billion in 2022.

Speaking at the AGM, the Acting Chairman of the Board of Directors at Unilever Nigeria, Mr. Micheal Ikpoki expressed appreciation to all shareholders for their support throughout the year despite the challenging environment in the last year. He promised that the Board and Management will continue to put in their best in fostering growth and navigating the tides as the Company steers toward more successes. 

“Our resolve as a business is to continue to take strategic decisions that will improve our operational efficiencies to meet citizens’ needs through our brands, our people, and our operations,” he said. 

On the improved performance of the business, the Managing Director of Unilever Nigeria, Mr. Tim Kleinebenne said the achievement in the year under review is reflective of a collaborative effort from all key stakeholders and improved operational performance and greater investment in our brands, supply, and distributions, to ensure we meet the needs of consumers across channels.

“We are pleased with the results for 2023. It speaks to the impact of the strategic choices we make daily about our operations to better serve the consumers with our best locally produced brands that contribute to improving their health and hygiene.” He said. 

Kleinebenne added that having reached a 100-year milestone in Nigeria in 2023 and becoming the longest serving manufacturing company in Nigeria, the company remains committed to staying in Nigeria for the next 100 years plus. 

“We believe in Nigeria and reaffirm our position that the opportunities are more than the challenges. With our resilience, agility, partnership, and commitment of the government on the ongoing reforms through strategic choices, policy formulation and implementation, gradually a better Nigeria will emerge.” Kleinebenne said.