Nestlé Announces N38.50 Dividend for 2018

• Nestlé Announces N38.50 Dividend for 2018

Nestlé Nigeria Plc announced a dividend of N38.50 per share for the financial year ended December 31, 2018.

The announced dividend was in addition to N20 interim dividend previously paid by the company.

Mr Mauricio Alarcon, the Managing Director, Nestlé, in a statement, said that the dividend would be finalized and ratified by the shareholders during its annual general meeting scheduled for May 28.

According to him, the company posted a turnover of N266.28 billion in 2018, up by 9.1 per cent from the N244.15 billion recorded in 2017.

Gross profit rose from N100.9 billion posted in 2017 to N113.9 billion, while profit before tax climbed from N46.83 billion to N59.75 billion.

The manager attributed the success to consistent delivery of high-quality product and costumers’ loyalty.

He said, “We are pleased with our 2018 results, considering the increasingly competitive business environment. The growth was driven by the continued loyalty of our consumers as we focused on consistently delivering high-quality, tasty and nutritious food products adapted to their preferences.

“The discipline and dedication of our people also supported this business outcome. The company has continued to invest in innovation to keep delighting consumers with its iconic brands.

“The multi-cereal Nestlé Golden Morn Puffs fortified with iron was introduced during the year.”

Alarcon added that the company would leverage its capabilities to deliver value to its customers and shareholders in the current financial year.

He said the company looked forward to the new financial year with a cautious optimism in view of the challenging business environment.

“We will focus on leveraging our capabilities to deliver value to our consumers and our shareholders as we contribute to the growth of the local economy and to improving livelihoods within our communities,” Alarcon stated.