Home Business & Economy Nestle shareholders approves N7.926 dividend payment

Nestle shareholders approves N7.926 dividend payment


Shareholders of Nestle Nigeria Plc has approved a dividend payment of N10 per ordinary share, amounting to a total dividend of N7.926.562.520 for 2016 financial.

The shareholders who spoke at the company’s 48th Annual General Meeting also urged the company to extend its production line to the South East, adding that the quality of the quality of the product must be sustained as there is a lot of competition in the market.

National Chairman, Progressive Shareholders Association of Nigeria, Boniface Okezie maintained that there is urgent need company to have a water plant in the east in order to reduce the cost of transporting the water to the eastern market.

According to him, Abia State is currently the safest state in Nigeria, adding that there is need to ensure that interim dividend returns at the end of the 2017 financial year.

Also speaking, National President of Independent Shareholders Association of Nigeria, Sir Sunny Nwosu appreciated both the board and management of Nestle for their efforts so far in piloting the affairs of the company, adding that shareholders wants better dividends in the years ahead.

Williams Adebayo, a shareholder activist maintained that the company’s increase in sales shows that Nigerians are happy with the products and wishes the company continues irrespective of the current recession.

“There is a lot of competition in the market and there is there is need to maintain the quality of the products. The 20 per cent we have gained in the sales of products gives us the confidence that the future is bright,” he said.

Chairman of the company, Mr. David Ifezulike noted that in spite of the challenging operating environment, Nestle employed 111 new employees in 2016 as a result of its commitment to the long-term potential of the company’s business in Nigeria.

According to him, as at 31 December 2016, the total number of employees of the company was 2,325.

“Well aware of the challenges that lie ahead, we are cautiously optimistic as we evaluate the opportunities we have to continue to build a profitable business. These opportunities include the wealth of men and women who are passionate about keeping Nestle at the top and the consumers’ trust in the Nestle brands that have nourished families through multiple generations. Our company will courageously face the headwinds in 2017,” he noted.

In his comment, Managing Director, Nestle Nigeria Plc, Mr. Mauricio Alarcon said, as we look forward, “we will continue to work to impact the society positively. Every day, Nestlé Nigeria touches the lives of millions of people, from the farmers who grow its ingredients to the families who enjoy its products, to the communities where the company operates, and the rural environment upon which it depends.

“Driven by its purpose that is, enhancing quality of life and contributing to a healthier future, Nestlé Nigeria is committed to enabling healthier and happier lives for individuals and families, local sourcing, capacity building for farmers and rural development.

“In Nestlé Nigeria, we will continue to stay true to the confidence our consumers place in us to guarantee the highest quality standards in the brands they know and trust for healthy nutrition. We will continue to work with partners to inspire people to lead healthier lives, we will continue to equip the farmers and suppliers we work with to consistently deliver high quality raw materials, we will continue to empower women, we will continue training and empowering the youth to develop the leaders of tomorrow,” he said.

For a better society

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