News Column

Shareholders Endorse Unilever's N4.7 Billion Dividend

May 19, 2014

Kayode Ogunwalo

Unilever Nigeria Plc shareholders have commended the company's board and unanimously approved its recommended dividend payout of N4.729 billion for the year to December 2013.

The Board of Directors had prior to the company's Annual General Meeting (AGM) in Lagos on Thursday, recommended a dividend payout of N1.25 kobo gross per share, amounting to N4.729 billion.

Speaking at the89th AGM, the President of the Independent Shareholders' Association of Nigeria (ISAN), Sir. Sunny Nwosu, said despite the challenging business environment witnessed last year, the company was able to declare dividend.

He said this was a welcome development that should be applauded, adding that shareholders expected the current year to be better for the company.

Another shareholder, Boniface Okezie, said the declaration of dividend by the board proved that the directors had the shareholders' interest in mind.

He also called for bonus issues for shareholders, adding that it will go a long way to enable them sell their shares and make better investment.

Chairman of Unilever, His Majesty Nnaemeka Achebe, said the firm will continue to drive the implementation of the electronic dividend and bonus payment system in other to reduce the incidence of unclaimed dividends and share certificates.

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Source: AllAfrica

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