Nestle Chairman David Ifezulike Set To Receive N2.5m As Company Approves Dividend of N36.50 per Share
- Nestle Nigeria Plc has released its financial performance for 2022, and it was a positive year
- Leading the board of directors to approve a dividend payment of N36.50 per share for all shareholders
- David Ifezulike, who is the chairman of Nestle, will be getting N2.5 million based on its shareholdings in the company
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Nestle Nigeria Plc, a leading food and beverage company in Nigeria, has approved a dividend of N36.50 per share for its shareholders.
David Ifezulike, Nestle's Chairman is entitled to a dividend share of N2.5 million. This is based on his ownership of 56,255 shares in the company, which represents a fraction of the total 792.6 million shares.
What will happen to the other shareholders
However, in a corporate disclosure submitted to the Nigerian Exchange, the company said the payout is subject to appropriate withholding tax and will be paid to shareholders whose names appear on the register of members at the close of business on Friday, 21st April 2023.
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The company also stated that the register of members would be closed from Monday, 24th April 2023 to 28th April 2023, with both dates inclusive.
How will Nestle dividends be paid
Nestle said shareholders would get their dividends paid electronically the but to those whose names appear on the registrar of members on 21st April 2023, and who have completed the e-dividend registration and mandated the registrars to pay their dividends directly into their bank accounts.
Shareholders who have not yet completed e-dividend registration can download the e-dividend mandate activation form from the registrar's website, complete it, and submit it to the registrar or their respective banks.
More so, Shareholders with dividend warrants that have not been presented for payment or returned for validation are advised to complete e-dividend registration as well.
Breakdown of Nestle's financial result
Nestle Nigeria Plc has also published its financial report indicating that the profit for the year amounted to N49 billion, a 22.3% increase from the previous year's N40 billion.
Other key metrics from its result include:
- Revenue- N446.81bn
- Cost of Sales- N291.05bn
- Profit before income tax- N71.10bn
- Profit after tax- N49 billion
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