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Nestle Nigeria Declares N25 Interim Dividend for the Period Ended September 30, 2021

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Dividend - Investors King

Shareholders of Nestle Nigeria Plc would be currently smiling to the bank as the company announced an interim dividend of N25 per 50 Kobo ordinary share, subject to withholding tax, to shareholders whose names appear on the register of members as at the close of business on 19 November 2021.

Going by the company’s outstanding shares of 792,656,252, the amount translates to N19.816 billion.

The register of members would be closed from 22 November 2021 to 26 November 2021. On 6 December 2021, the dividend would be paid electronically to shareholders whose names appear on the register of members on 19 November 2021 and who have completed the e-dividend registration and mandated the registrars to pay their dividends directly into their bank accounts. The registrar of Nestle Nigeria Plc is Greenwich Registrars and Data Solutions Limited.

This comes as Nestle reported a 23 percent increase in revenue for the period, N261 billion was earned in the period ended September 2021 compared to N212 billion in the period ended September 2020. The company has two reporting segments, Food which includes the production and sale of Maggi, Cerelac, Nan, Lactogen, and Golden Morn and Beverages which includes the production and sale of Milo, Chocomilo, Nescafe, Milo ready-to-drink (RTD), and Nestle Pure Life. The Food segment reported a revenue of N154 billion while the Beverages segment reported a revenue of N107 billion during the period. N258 Billion of revenue was earned in Nigeria and N3 Billion was earned from exports to other countries.

Cost of sales, however, rose from N122 billion in the year ending September 2020 to N160 Billion in September 2021 and this saw profit for the period rise slightly by 5% from N31 Billion to N33 Billion. Earnings per share rose from N40.29 in 2020 to N42.37 in 2021.

Nestle Nigeria Plc is one of the largest food and beverage companies in Africa. For over 57 years, Nestle has been delighting consumers in Nigeria with high-quality nutritious food products. Nestle has a staff strength of over 2,300 direct employees, 3 manufacturing sites, and a head office in Lagos and produces several iconic brands in Nigeria.

Chukwuebuka is an Economist and Accountant that closely follows and writes on equities, forex and crude oil for Investors King.

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Dividends

Seplat Confirms Currency Exchange Rates for Dividend Payment

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Seplat Energy Plc - Investors King

Seplat Energy Plc, a leading Nigerian independent oil and gas company, today confirms that the following currency exchange rates will be applicable in determining the interim dividend for Q3 2021 to any shareholder that qualifies for and has elected to receive the dividend payment in Naira or Sterling (GBP):

Exchange Rate

1 USD = 413.64 NGN
1 USD = 0.7468 GBP

The exchange rate for the Naira or Pound Sterling amounts payable was determined by reference to the exchange rates applicable to the US dollar available on 12th November 2021.

The closing date for dividend currency election to the Company’s Registrars is 30th November 2021. In the absence of a qualifying dividend currency election by shareholders to the appropriate Registrar, dividends will be paid in their default currency.

Shareholders should refer to the Company’s announcement on 28th October 2021 for definition of default currency and dividend currency election forms can be found on the company website at https://seplatenergy.com/investors/dividend.

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Dividends

Airtel Africa Confirms Default Currency, Options on Currency Election For Interim Dividend

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Airtel Africa - Investors King

Airtel Africa on Tuesday confirmed the default currency and options on currency election for the interim dividend, (recommended by the Board to be 2 cents per ordinary share payable on 10 December 2021 to shareholders on the register at of close of business on 12 November 2021) and the currency exchange rates that will be applicable in determination of the interim dividend payment to any shareholders that qualify for and have elected to receive the interim dividend payment in U.S. dollars, GB pounds or Nigerian naira will be as follows:

Arrangements for Shareholders that hold their shares on the London Stock Exchange (LSE):

• Shareholders that hold their shares on the London Stock Exchange may elect to receive their entire dividend payment in GB Pounds or U.S. dollars.

• Partial elections are not permissible.

• Holders electing to receive a dividend should specify a choice of currency by completing the Currency Election Form and returning this to Computershare Investor Services plc.

• Shareholders holding their shares on the LSE who do not indicate their currency of choice before 26 November 2021 will receive their dividends in U.S. dollars.

• The closing date for the dividend currency election to the Company’s Registrars Computershare Investor Services plc in the UK is 26 November 2021.

• Currency election forms can be obtained by contacting the Company’s Registrars, Computershare Investor Services plc, on the Company’s dedicated telephone line: +44 (0)370 703 0027.

Arrangements for Shareholders that hold their shares on the Nigerian Exchange Limited (NGX):

• Shareholders that hold their shares on NGX may elect to receive their entire dividend payment in Nigerian naira or U.S. dollars.

• Partial elections are not permissible.

• Holders electing to receive a dividend in U.S. dollars should complete the Currency Election Form and return this to Coronation Registrars Limited or email to eforms@coronationregistrars.com

• Shareholders holding their shares on NGX who do not indicate their currency of choice before 26 November 2021 will receive their dividends in Nigerian naira.

• The closing date for the dividend currency election to the Company’s Registrars Coronation Registrars Limited in Nigeria is 26 November 2021.

• Currency election forms can found on the website of the Company’s Registrar at www.coronationregistrars.com or by using this direct link: https://coronationregistrars.com/currency-election-form/

The following currency exchange rate will be applicable in the determination of the interim dividend payment to any shareholders that qualify for and have elected to receive the interim dividend payment:

Exchange Rate

1 U.S. dollar = 414.55 Nigerian naira
1 U.S. dollar = 0.7373 GB pounds

The exchange rate for the Nigerian naira or GB pounds amounts payable was determined by
reference to the exchange rates applicable to the U.S. dollar available on 8 November 2021.

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Dividends

Dividends/Bonuses Proposed in the Week Ended October 29, 2021

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Dividend - Investors King

Some of the listed companies that reported their financial positions last week also proposed dividend or bonus payments to shareholders. Below are the companies that proposed dividends and bonuses in the week ended October 29, 2021.

LAFARGE AFRICA PLC

Proposed Dividend: ₦1.00
Proposed Bonus: null FOR null
Qualification Date: 11/10/2021
Payment Date: 11/19/2021
Closure of Register Date: 11/11/2021

NESTLE NIGERIA PLC

Proposed Dividend: ₦25.00
Proposed Bonus: null FOR null
Qualification Date: 11/19/2021
Payment Date: 12/6/2021
Closure of Register Date: 11/22/2021

AIICO INSURANCE PLC.

Proposed Dividend: ₦0.00
Proposed Bonus: 4 FOR 3
Qualification Date: 11/23/2021
AGM Date: 11/30/2021
Payment Date: 12/1/2021
Closure of Register Date: 11/24/2021

NIGERIAN BREWERIES PLC

Proposed Dividend: ₦0.40
Proposed Bonus: null FOR null
Qualification Date: 11/19/2021
Payment Date: 12/3/2021
Closure of Register Date: 11/22/2021

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