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Cadbury Nigeria declares N920m dividend

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By Taofik Salako, Capital Market Editor

 

The Board of Directors of Cadbury Nigeria Plc has recommended payment of N920 million to shareholders as cash dividends for the 2019 business year, second consecutive year of significant dividend growth.

Shareholders will receive a dividend per share of 49 kobo, representing 96 per cent on the payout for the 2018 business year.

The company had distributed N471 million to shareholders as cash dividend for the 2018 business year. Shareholders received a dividend per share of 25 kobo for the 2018 business year as against 16 kobo paid for the 2017 business year..

The dividend was one of the highlights of the audited report and accounts of Cadbury Nigeria for the year ended December 31, 2019. Key extracts of the report showed appreciable growths across key performance indicators.

Total turnover rose from N35.97 billion in 2018 to N39.33 billion in 2019. Profit before tax also increased from N1.22 billion to N1.54 billion while profit after tax jumped from N823 million in 2018 to N1.07 billion in 2019.

The 2019 report further strengthened the performance outlook of the food company, after it posted three-digit growths in profitability in 2018.

 

The audited report and accounts of the company for the year ended December 31, 2018 had shown that the company’s full-year profit before tax surged by 242.9 per cent to N1.2 billion in 2018 as against N350 million in 2017. Net profit rose by 174 per cent from N299.9 million in 2017 to N823 million in 2018.

In a review, Chairman, Cadbury Nigeria Plc, Mr. Atedo Peterside, told shareholders that the company’s positive performance was driven by success of its cost-cutting measures, effective marketing strategy, and superlative performance of its various brands.

Cadbury Nigeria had in 2019 appointed Mrs. Oyeyimika Adeboye as Managing Director with effect from April 1, 2019. Mrs Adeboye was the first woman to be appointed to that position since the establishment of Cadbury Nigeria over five decades ago.

Mondelçz International, a global snacking powerhouse, holds 74.99 per cent majority equity stake in Cadbury Nigeria, while the remaining 25.01 per cent are held by a diverse group of individual and institutional investors.

 

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