Nestle Nigeria to sustain interim dividend culture
The company proposed N15 interim dividend to its shareholders for the period ended September 30, 2017.
This position was also reiterated by the company’s Managing Director/Chief Executive Officer, Mauricio Alarconn, at a closing gong ceremony held at the Nigerian Stock Exchange, which had the board and management members of Nestle Nigeria in attendance.
According to the company, register of members will close on November 27, 2017, while payment date is December 11, 2017.
Highlights of the nine months financials showed that revenue grew by 43.06 per cent to N185.242bn, which is above N129.482bn recorded same period in 2016. Profit before tax went up by 526.38 per cent to N34.479bn as against N5.5bn that was recorded in 2016.
During the quarter, Nestle introduced a new product, Milo ready-to-drink, into the market. For now, the product is only starting to gain market acceptance and is expected to meaningfully impact on Nestle’s top line going forward.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
Contact: [email protected]
You may be interested
#COVID19 In Cross River: “The State’s Health Commissioner Owes Nigerians An Explanation For Downplaying Infection Statistics”– Fisayo Soyombo mabel - July 8, 2020
Recall that the Nigerian Medical Association (NMA), Cross River State branch, on Tuesday commenced an indefinite strike to protest against…
Wike Sacks Perm. Sec Over Disregard Of #Covid19 Guidelines; Imposes Curfew On Bonny LGA, One Othermabel - July 8, 2020
Rivers State Governor, Nyesom Wike has appealed to residents of the State to take personal responsibility in curbing the spread…
Magu Update: New EFCC boss resumes; appointment follows northernisation agendaWebby - July 8, 2020
Following the detention, suspension, and sustained grilling of EFCC’s former chairman Ibrahim Magu by a presidential investigative panel housed in…