Nestle Nigeria Plc declares interim dividend of N25 to be paid to shareholders

Nestle Nig Plc has announced an interim dividend of N25.00k per 50 kobo ordinary share, representing N19.82 billion for the financial period ended September 30, 2021.

This is contained in a notice filed with the Nigerian Exchange Limited (NGX) and signed by the company’s secretary, Bode Ayeku, FCIS.

The interim dividend of 25 naira per share is subject to appropriate withholding tax and approval will be paid on all of the company’s 792,656,252 outstanding shares, taking the total amount to be disbursed as final dividends to N19.82 billion.

Hence, on the 6th of December 2021, the dividend will be paid electronically to the shareholders whose names appear in the Register of Members as at the close of business on November 19, 2021.

In order to facilitate the process, the Register of Shareholders will be closed from 22nd of November to 26th of November, 2021.

Therefore, shareholders are urged to ensure that their names appear on the Company’s Register of Members as at the aforementioned date and shareholders who are yet to complete the e-dividend registration are advised to download the form on the Registrar’s website, complete the form and submit it to the Registrar or their respective banks.

Shareholders are also expected to mandate the Registrar (GTL Registrars Limited) to pay their dividends directly into their bank accounts.

Furthermore, shareholders with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment have been advised to contact the registrar.

What you should know:

Nestle Nigeria Plc has reported a 25.71% growth in its Revenue to N90.15 billion for the 2021 Q3 Period. Similarly, bottom-line growth was recorded as net profit appreciated by 17.21% to N11.85 billion. During the period, earnings per share (EPS) grew to N14.95 kobo, advancing by 17.16% YoY.

Nestle Nigeria Plc, as at the time of this report, trades at N1,405.00 per share.

GlaxosmithKline Plc reports profit after tax of N62.79 million in Q3 2021

GlaxoSmithKline Plc released its unaudited financial results for the third quarter of the year ended 30th of September, 2021. 

  • Revenue during the period was N6.59 billion. (+9.55% YoY)  
  • Cost of sales stood at N4.99 billion. (+11.10% YoY) 
  • Selling and Distribution costs for the period was N1.15 billion. (+20.21% YoY) 
  • Administrative expenses of N559 million was recorded. 
  • Profit before tax was N92.64 million (+49.88%). Total assets during the period stood at N23.49 billion. (+1.23 bn YoY) 
  • Profit after tax was N62.79 million. (+49.41 YoY) 
  • Earnings per share of 5 kobo Vs 4 kobo YoY. 

See link to results 


United Capital Plc announces the Launch of N150 billion Infrastructure Fund

United Capital Plc has announced the launch of a Naira-denominated fund, the United Capital Infrastructure Fund (UCIF), with a N150 billion issuance program, established to provide long-term financing for the delivery of critical infrastructure.

The United Capital Infrastructure fund is anticipated to bridge the infrastructure deficits in Nigeria and sub-Saharan Africa.

While the sponsor of the fund is United Capital Plc, the fund is being managed by United Capital Asset Management Limited (UCAML).

What this means

According to the disclosure signed by the company’s secretary, Leo Okafor and published on the NGX website, the fund has been registered by the Securities and Exchange Commission (SEC), as a close-ended fund, with a N150 bilion issuance program.

The idea behind the fund is to finance bankable infrastructure assets across different and diverse sectors such as power and renewable energy, transportation, agribusiness and industrial infrastructure, healthcare, technology, mass housing, urban and social infrastructure.

In addition, Africa Finance Corporation has been retained by the Fund as the independent Financial Advisor, to provide additional layers of best practice of corporate governance in enhancing the project appraisal and due diligence activities of the Fund Management team.

The Managing Director of United Capital Asset Management Limited has explained that as part of the preparatory activities, numerous infrastructure projects were appraised and the Fund management team is currently at the advanced stage of conducting due diligence on a deal pipeline valued at N54 billion which includes several projects.

Speaking at the launch of United Capital Infrastructure Fund, Mr. Peter Ashade, the Group Chief Executive Officer of United Capital Plc commented that “the journey to launch the Fund has taken almost two years, during which period extensive preparatory studies and appraisals were carried out to establish the business case for the Fund, as well as to define a model and governance framework that would provide investors that have an appetite for long-term financing products (such as pension funds and insurance companies), with sufficient confidence of the attractiveness of UCIF, as an investment opportunity”.