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Nestle reports N36.8bn profit in Q3 2019 earnings report; Declares N25 per share dividend

Nestle reports N36.8bn profit in Q3 2019 earnings report; Declares N25 per share dividend

Food and beverage company, Nestle Nigeria on Wednesday reported an 11.24 percent increase in profit after tax of N36.8 billion in its Q3 2019 financial statement for the nine months period ended September 30, 2019.

The company’s revenue grew by a marginal 4 percent increase to N211.3 billion in 2019 from N203.1 billion in the same period of 2018, of which N207.9 billion was from sales of goods in Nigeria, representing a marginal increase of 3.69 percent.

Goods exported by the company contributed N3.5 billion to the total revenue of the company in the review period. This is a 31 percent increase from N2.6 billion in 2018.

Profit before tax stood at N56.6 billion as against 48 billion in 2018, growing by 17.6 percent. Profit after tax also increase by 11.24 percent to N36.8 billion from N33.1 billion from the comparative period in 2018.

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Nestle report earnings per share of N46.48 for 2019 as against N41.78 in 2018.

The company has also declared a dividend of N25 per 50 kobo ordinary share. The dividend is subject to appropriate withholding tax and approval from the board.

Qualification date has been set for November 20, 2019. The Register of Shareholders will be closed from November 25 to 29, 2019.

The company will pay out dividends electronically by December 5, 2019, to shareholders whose names appear on the shareholders’ register as at the qualification date.

Nestle traded at N1,220 during Wednesday’s trading session on the floor of the Nigerian Stock Exchange (NSE).

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