Unilever Nigeria Plc shareholders have agreed to pay N1.44 billion as a dividend for the Financial Year 2022 at the company’s 98th Annual General Meeting held in Lagos.

The company recorded a turnover of N88.5 billion in the financial year, representing a 26% increase from N70.5 billion in FY 2021.

The Chairman of the Board, Nnaemeka Achebe, informed shareholders that the company’s efforts to return to profitability were possible due to a well-managed production cost profile.

He commended shareholders for their consistent trust and loyalty to the company, promising a steady return on their investment.

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Achebe stated that despite the socio-economic challenges faced in 2022, the company’s operational discipline, enhanced pricing strategy, and well-managed production costs profile produced a solid top-line performance.

The Company’s Profit After Tax (PAT) was N4.5 billion, a 31% increase from FY 2021, while earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at N9.9 billion, a 114% increase from 2021.

Unilever Nigeria Plc’s Managing Director, Mr Carl Cruz, attributed the company’s improved operational efficiency to its strategic approach to operations.

He stated that by implementing strategic changes, the company would achieve sustainable and profitable growth necessary for it to continue operating for the next 100 years.