N50,000 Dividend To Be Paid To Unilever Shareholders

For the financial year ended December 2021, Unilever Nigeria Plc has said it will pay a N50,000 dividend to its shareholders

According to a  statement, the company recorded a turnover of N70.5 billion in the period under review.

“Unilever’s results for the year under review show considerable progress across all indices, owing to improved operational performance and greater investment in the supply and distribution network, which resulted in high volume,” the statement said.

Stating that during its 97th annual general meeting of the company, Nnaemeka Achebe, the Chairman of the board, assured shareholders of its commitment to good corporate governance to drive sustainability and efficiency across the company’s operations.

The company’s financial report reveals that revenue from its continuing operations increased to N70.5 billion, from N52.2 billion the previous year, which reflects a 35% increase. 

Profit before tax from its continuing operations was N1.9 billion, compared to a loss of N4.5 billion in 2020, while profit after tax from its continuing operations was N0.7 billion, up from a loss of N3.8 billion in the previous year.

“Despite the challenges faced, our operational discipline on secondary sales, trade debt, overdue, and cash management has driven the right kind of growth in 2021 as we continued to see growth coming back to the business,” Achebe said.

Carl Cruz, the Managing Director, Unilever Nigeria Plc, Carl Cruz, stated that the considerable improvement in the 2021 financial statements was a direct outcome of the company’s management and staff’s renewed commitment to reaching new heights.