Tag: Nestle Nigeria Plc

The Board of Nestle Nigeria Plc has announced that it will be hosting its 52nd Annual General Meeting today, 22nd of June, 2021.

This is according to a notification signed by the company’s secretary, Bode Ayeku, and seen by Nairametrics.

According to the notice, investors, shareholders and other relevant stakeholders who might not be able to attend the meeting due to restriction on mass gathering imposed by the government as a result of COVID-19, can opt to watch the live proceedings and participate using the link attached in the disclosure HERE.

As a rule of thumb, it is expected that several issues will be discussed in the AGM among which are;

• The audited financial statement for the year ended December 31, 2020, and the report of its Directors, auditor, and the audit committee.
• The firm’s proposed dividend will be considered and approved.
• Board appointments will also be considered and ratified.
• Remuneration of managers and Directors in FY 2021 will be considered.
• Shareholders’ representatives of the statutory audit committee will be elected.

What you should know:

• Nestle Nigeria Plc had earlier reported a profit after tax of N39.2 billion in FY 2020, as its earnings per share for the period printed at N49.47. Sequel to this, a dividend of N35.5 was proposed by the board.

Nestle Nigeria Plc has published the names of 17,187 shareholders who are yet to file and receive their dividends, categorizing them under the firm’s unclaimed dividend list.

According to a disclosure sent to the Nigerian Exchange Group Plc (NGX) and seen by Nairametrics, the list of unclaimed dividends for shareholders of Nestle Nigeria Plc will be published in two reputable media houses on 11th of June, 2021. The publication will be made available via the online platforms of The Punch and Guardian newspapers.

Rationalizing this recent action, the firm disclosed that the Companies and Allied Matters Act 2020 had mandated the company to publish the list of unclaimed dividends with names of all intended beneficiaries, in at least two national newspapers.

The recent disclosure by the Nestle Nigeria Plc therefore validates an earlier claim of a surge in unclaimed dividend in Nigeria, estimated to be around N200 billion by an adhoc committee of the Nigerian House of Representatives.

In a bid to manage the high incidence of unclaimed dividends in Nigeria, the Federal Government of Nigeria through the Finance Act 2020 had proposed the establishment of an Unclaimed Dividend Trust Fund, which is to be managed by the Debt Management Office (DMO).

What you should know:

• Nairametrics had earlier reported that Nigerian Breweries Plc had published the names of over 100,000 shareholders who are yet to file and claim their dividends.

• Nestle Nigeria Plc had earlier reported a profit before tax of N60.6 billion in FY 2020. Sequel to this, a dividend of N35.50 was proposed during the period

See link to the unclaimed dividend list of the company.