Unilever plc declares dividend after profit rises

Shareholders of Unilever Plc will smile home in May with a dividend payout of N1.40 per share.

The conglomerate in its 2011 audited account released toady posted a profit after tax of N5.491 billion, with a turnover of N54 billion.

The performance surpassed the 2010 result. Turnover then was N46 billion, while profit after tax was N4.18 billion.

Unilever was however able to increase its profit despite rising cost of sales. The company spent N34 billion last year as against N29.3 billion spent in 2010.
In 2011, the company also grew its asset base to N9.6 billion from N8.33 billion.

According to the result made available to the Nigeria Stock Exchange today, the company will shut its book between 10 and 13 April and pay the dividend 11 May, after its AGM on 10 May in Lagos.

Despite the release of the result, the stock traded lower today at N29.96 from yesterday’s closing figure of N31.50.

The market snub was an indication that the dividend payout was not so impressive as Julius Berger, trading about the same value declared a N2.40 dividend yesterday.