Nestle Nigeria To Pay N28.1 Billion Dividend To Shareholders

Nestle Nigeria Plc's Board announced the approval of a final dividend payment of N28.14 billion representing N35.50 per share for the 2020 financial year.

This was announced during the company's 52nd Annual General Meeting, held at Ilupeju, Lagos on 22nd of June, 2021 according to a recent disclosure signed by the company’s secretary, B.B Ayeku, and made accessible on the website of the Nigerian Exchange Group Limited (NGX).

According to the notice, the approved sum is made up of N24.50k from the after-tax profit for the year ended December 31, 2020, in addition to N5.00 and N6.00 from the after-tax retained earnings for the years ended December 31, 2019, and 2018 respectively.

It is pertinent to note that the approved dividend which is subject to appropriate withholding tax will be paid out to all the shareholders, whose names appear on the Register of Members as at the close of business on 21st of May, 2021.

The consumer-good giant had earlier announced an interim dividend of N25 per share, totaling N19, 816,406,300. In light of this, the firm has so far declared a total dividend worth N60.50 per share for the FY 2020 period, translating to a dividend pay-out of N47, 955,703,246.00 in total.

Nestle Nigeria Plc had earlier reported a profit after tax of N39.2 billion in FY 2020. Its earnings per share printed N49.47 during the aforementioned period.

Last month, the firm released the names of 17,187 shareholders who are yet to file and claim their dividends.

Nestle Nigeria Plc closed trading for the week ended 2nd of July 2021, with a share price of N1,540 and a market capitalization of N1.22 trillion.