Shareholders of leading FMCG Company, Nestle Nigeria Plc, at the company’s 54th AGM in Lagos on Wednesday, 17th May, 2023, approved the proposed final dividend of N36.50 for the 2022 financial year at the meeting.
This came on the same day that the board chairmanship changed hands as David Ifezulike made way for Gbenga Oyebode, an independent non-executive director.
According to the company’s results for the 2022 financial year, the board of directors had recommended the payment of a final dividend of N36.50(2021: N25.50) per share, having earlier declared an interim dividend of N25 from the profit of 2022.
The proposed final dividend of N36.50 was from the after-tax profit for 2022. The total dividend paid for the year amounted to N61.50.
Nestle recorded a 27 percent growth in its revenue for the 2022 financial year, from N351.82 billion to N446.81 billion in 2022.
At the AGM, David Ifezulike announced his retirement from the company and revealed his successor as Gbenga Oyebode.
Ifezulike said having been the board chairman for 10 years, he was happy to announce his successor at the beginning of the meeting to enable Oyebode hear the concerns and expectations of the shareholders directly.
He said, “It has been a privilege for me to serve in this capacity and the company and I introduce my successor, Mr. Gbenga Oyebode. The reason I introduced him early is to enable him to hear all the complaints and resolve them.
“All we are doing is in the interest of the company.”
Oyebode was appointed to the board of Nestle on February 24, 2014. He’s the chairman of Okomu Oil Palm Plc and a director of both CFAO Nigeria and Lafarge Africa.
