Unilever Nigeria Plc. has declared a dividend of N7,181,256,771.25 (Seven billion, one hundred and eighty-one million, two hundred and fifty six thousand, seven hundred and seventy one naira and twenty-five kobo) for the year ended December 2024.

The declaration follows a growth of N149.5 billion in 2024, which represents 44 per cent topline growth compared to N103.9 billion turnover recorded in the corresponding period in 2023.

During the company’s 100th Annual General Meeting, shareholders approved the dividend at 1.25 kobo per share, a 66 per cent increase from the 75 kobo declared in 2023.

The shareholders appreciated this increase and reaffirmed their belief in the leadership of the company to grow the business in the coming year.

The result for the total business shows a net profit of N15.1 billion for the period ended 31st December 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 versus 2023.

Speaking at the AGM, the Chairman of the Board of Directors at Unilever Nigeria Plc, Mr Bolaji Balogun, appreciated all esteemed shareholders for their support despite the volatility of the operating environment in the preceding year.

He affirmed that the board and management remained resolutely committed to advancing the company’s strategic growth agenda and adeptly navigating prevailing and emergent challenges, as they steer the organisation toward enduring success and greater accomplishments.

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

In his remarks, the Managing Director of the company, Tobi Adeniyi, said: “We are pleased with our year-on-year growth trajectory, which rides on the pillars of operational efficiency, cost optimisation, purposeful brands and increasing market share across key categories.

“We remain committed to continually building sustainable relationships with our partners across the value chain and growing our business to enhance our socioeconomic impact across the country.”

The AGM, which can be 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 of the Shareholders Solidarity Association of Nigeria, Chief Timothy Adesiyan, said: “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.”