Nestle Nigeria to pay N28.14bn dividend to shareholders

By Kayode Tokede

The Board of Nestle Nigeria Plc has approved a final dividend payment of N28.14 billion representing N35.50 per share for the 2020 financial year at the 52nd Annual General Meeting (AGM)of the company, held at Ilupeju, Lagos on 22nd of June, 2021.

This is according to a 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.