BreakingNews 19/3/16 - Dividend: Nestle Nigeria to Splash 92% of Profit on Shareholders

[ Masterweb Reports: Busayo Samuel reports ] - Shareholders of Nestle Nigeria Plc, a subsidiary company of Nestle S.A. Switzerland, will share 92 percent of the company’s profit for the year ended December 31, 2015 as dividend.

Nestle S.A owns 63.48 percent of the total shareholdings in Nestle Nigeria Plc.
The Board of Directors of the company says about N21.80billion or $109million has been earmarked for shareholders for the review period. This comes to N29 per share including N10 per share distributed as  interim dividend before  the end of the financial year.

However, the total dividend of N21.80billion for 2015 represents a 19 percent drop compared to N26.95billion dividend paid to shareholder in the preceding financial year ended December 31, 2014.

The N26.95billion shared as dividend in 2014, exceeds the profit for the year which stood at N22.24billion by N4.71billion.

Meanwhile, profit for the year recorded a seven percent growth from N22.24billion in 2014 to N23.74billion while revenue increased to N151.27billion compared to N143.33billion in 2014, representing about six percent growth.


*Photo Caption - Nestle Company logo

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