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Monday, March 20, 2023

Nestle Nigeria Profit Slides 13%, to Pay N25 Dividend

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Nestle Nigeria has reported a 13 percent slide in profit after tax for the nine months’ period to September 2020 as revenues came in flat for the period.

Nestle declared a N25 interim dividend which will be paid on 20 November 2020.

Profit for the period came in at N31.94 billion, compared to N36.84 billion in 2019.

Nestle Nigeria Plc. manufactures, markets and distributes food products throughout Nigeria.

The company also manufactures Hydrolysed plant protein mix and other food products based on its local agricultural raw materials under its backyard integration program.

Nestle Nigeria stock is up 17 percent in the past year.

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