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Omodele Adigun
The shareholders of Nestle Nigeria Plc Tuesday, at their 50th Annual General Meeting in Lagos approved N38.50 as final dividend for the 2018 fiscal year, after payment of a N20 interim dividend.
Addressing the shareholders, the Chairman of the company, Mr David Ifezulike, said the dividend payout is in line with the policy of making the shareholders stand as the ultimate beneficiaries of the business growth.
He explained that despite the challenging business climate in the country, the company’s revenue increased by nine per cent to N266.28million from N244.15 of the preceding year, while profit after tax rose by 28 per cent to a little above N43million from the 2017 figure of N33.7million.
On the outlook for 2019, he said:
“Confident in the capability of our people, our dedication to deliver high quality, tasty nutrition choices to our consumers and the continuous support of our stakeholders, we look towards 2019 with cautious optimism. We will continue to leverage our research and development capabilities to delight our consumers while creating value for our business and everyone across our value chain.”
