National Wire About Nigerians, Nigerian Business and Other Stories
Obi of Onitsha, HRM. Igwe Nnaemeka Alfred Ugochukwu Achebe
Unilever Nigeria Plc on Thursday received shareholders’ approval to raise N63 billion, the board of directors of the company got the go ahead at the company 92nd Annual General Meeting in Lagos.
The capital raising which is still subject to relevant regulatory authorities’ approval, according to the board is going to be by way of rights issue, issuance of ordinary shares, on such other terms and conditions and at such time, as the directors may deem fit or determine.
Shareholders after considering the financial report for the year ended December 31, 2016, also approved that the authorized share capital of the company be increased to N5,000,000,000 by the creation of 3,946,726,,000 new ordinary shares of 50 kobo each ranking in all respect pari passu with the existing shares of the company.
Meanwhile, a dividend of N378,330,000, that is 10 kobo per share which represents a 100 percent increase from the dividend paid for the year ended December 31, 2015 was approved by the shareholders.
In his remarks, chairman of the company HIS Majesty Nnaemeka Achebe said the company recognizes that these are unusual times in which prudence demands that the company continues to plough back into the business in the short to medium term to secure a sustainable future for the company.
On the company future outlook, he pointed out that “when the going gets tough, the tough get going, our company will therefore continue to focus on operational intensity and brilliant execution basics to navigate the twist and turns within our operating environment and consolidate on the gains of 2016 to ensure we remain consistent in realizing our growth ambitions in a sustainable way”
