LAGOS, Nigeria – Cadbury Nigeria Plc has announced a dividend of N912 million for its shareholders,.for financial year ended 2019. This translates to 49 kobo per share.
Mr. Atedo Peterside, Chairman, Cadbury Nigeria, disclosed this at the Company’s 55th annual general meeting (AGM), which was streamed live on YouTube, in line with COVID-19 safety protocols, permitted by the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE).
Mr. Peterside remarked that despite the challenging operating environment in the year under review occasioned by land border closure, dwindling consumer purchasing power, and inability to resolve the intractable congestion at the Apapa ports, the Company showed resilience and ended 2019 on a positive note.
“Our brands continued to perform well in the market despite the difficult operating environment, and in the face of intense competition,” he said.
“For instance, we started sea shipment of 3 in 1 Hot Chocolate cocoa beverage from Ghana to Nigeria, when it became apparent that Government was not going to re-open the land borders soon.
“Our sales and marketing team were active and aggressive in ensuring that all our brands are available to consumers across the country. Our iconic Bournvita beverage, Clorets chewing gum as well as TomTom, the classic functional candy, all contributed towards our growth in 2019.”
Shareholders at the AGM commended the Company for sustaining its current dividend payment policy, expressing delight with the 49 kobo received in 2019, up from 25 kobo in 2018.
The shareholders enjoined Cadbury Nigeria to continue to be innovative to remain competitive in the dynamic business environment.