Unilever Nigeria Plc announces record dividend payout for 2024

Unilever Nigeria Plc has declared its highest-ever dividend payout of N7.18 billion for 2024, according to regulatory filings. This represents a 66.9% increase from the N4.3 billion distributed in 2023, showcasing the company’s strong financial recovery.

The consumer goods giant, known for brands like Omo and Vaseline, reported remarkable growth in 2024. Revenue climbed from N103.9 billion to N149.5 billion, while profit after tax jumped 79.7% to N15.1 billion. These impressive figures explain the board’s decision to approve N1.25 per share dividend payment.

Shareholders on the register by May 12, 2025, will receive payments after tax deductions. Meanwhile, the company also revealed N120 million in fixed fees for non-executive directors, plus standard sitting allowances.

This payout marks a dramatic turnaround from 2019-2020 when Unilever suspended dividends due to pandemic losses. The consistent growth since 2021 demonstrates successful business strategies and operational improvements.

Analysts attribute the performance to increased demand for homecare and personal care products nationwide. With this record dividend, Unilever reinforces its commitment to shareholder value while maintaining market leadership in Nigeria’s fast-moving consumer goods sector.

The announcement has generated positive market reactions, with many investors anticipating sustained growth. Industry observers now watch how Unilever will reinvest profits to drive future expansion and maintain its competitive edge.

This development positions Unilever as one of Nigeria’s most rewarding blue-chip stocks, setting new benchmarks for corporate performance in the consumer goods industry. The company’s resilience and strategic vision continue delivering exceptional returns despite challenging economic conditions.

As payment dates approach, shareholders eagerly await their windfall while market analysts revise earnings projections upward. Unilever’s success story offers valuable lessons in corporate turnaround and sustainable growth strategies. The company now faces heightened expectations to maintain this stellar performance trajectory in coming years.

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