Shareholders hail Unilever Nigeria's sustained revenue growth
Unilever Nigeria Plc has declared a dividend of N7,181,256,771.25 in the year ended 2024.
This follows an impressive growth of N149.5 billion in 2024, which is 44 per cent topline growth compared to N103.9 billion turnover in the corresponding period in 2023.
At its 100th Annual General Meeting (AGM), shareholders approved the dividend at 1.25 kobo per share, a 66 per cent increase from the 75 kobo declared in 2023.
Shareholders hailed this increase and reaffirmed their belief in the leadership of the company to grow the business.
The result for the total business shows a net profit of N15.1 billion for the period ended December 31, 2024 compared to a net profit for the corresponding period in 2023 of N8.4 billion, which is 79 per cent improvement in the current year.
Speaking at the AGM, Chairman, Mr. Bolaji Balogun, applauded shareholders for their support, despite the volatility of the operating environment in the preceding year.
He affirmed that the board and management is committed to advancing the company’s strategic growth agenda and navigating prevailing and emergent challenges, as they steer the organisation toward success and accomplishments.
“Our resolve is to take strategic decisions to improve our operational efficiencies to meet the needs of Nigerians through our brands, people, and operations,” he said.
In similar vein, Managing Director, Tobi Adeniyi said: “We are pleased with our growth trajectory, which rides on operational efficiency, cost optimisation, purposeful brands and increasing market share in key categories. We are committed to building relationships with our partners and growing our business to enhance our socioeconomic impact.”
The AGM described as one of the best yet for the shareholders, saw many of them commending the consistent performance of the business in the last three years and the appointment of a Nigerian Managing Director after a long time.
President, Shareholders Solidarity Association of Nigeria, Chief Timothy Adesiyan, said: “I am grateful and happy to attend the 100th Annual General Meeting of Unilever Nigeria PLC. The performance of the business has been very good and improving in the last three years. This is reflected in the increased dividends of N1.25 kobo being paid to us the shareholders. Above all, I am proud and happy that the Company listened to us and have now appointed a Nigerian as the Managing Director.
”As the longest serving manufacturing company in Nigeria at over a hundred years, Unilever Nigeria is committed to ensuring continuous investment in Nigeria through its brands and operations. Unilever Nigeria is here to stay for the long haul.”
