Nestle Nigeria Plc (NSE – NESTLE) has announced a Board Meeting to consider the company’s audited accounts for the year ended 31 December 2020.
The Board of Directors of Nestle Nigeria Plc is scheduled to meet on 25 February 2021, to consider the draft audited financial statements of the company as well as the payment of dividend.
The company also announced a closed period in line with listing rules of the Nigerian Stock Exchange (NSE).
The closed period is effective from Wednesday, 10 February 2021, until 24 hours after the company’s accounts are released to the public.
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No director, person discharging managerial responsibility and adviser of Nestle Nigeria Plc and their connected persons shall deal in the securities of the company within the closed period.
Nestle Nigeria Plc reported just a 1% rise in revenue with a 13% drop in profit for the nine months ended 30 September 2020, as the cost of sales increased disproportionately with the marginal rise in revenue.
The company paid an interim dividend of N25.0 per 50k ordinary shares.
The equity price of NESTLE has been flat at N1,450 per share. YTD the price is down by 3.65%. The 52 week high and low prices are N1,505.00 and N764.90 per share respectively.
About Nestle Nigeria Plc
Nestlé Nigeria Plc (“the Company”) is a Company domiciled in Nigeria. It was incorporated on 25 September 1969 and listed on the Nigerian Stock Exchange on 20 April 1979. The address of the Company’s registered office is at 22- 24, Industrial Avenue, Ilupeju, Lagos. The Company is listed on the Nigerian Stock Exchange.
The principal activities of the Company continue to be the manufacturing, marketing, and distribution of food products including purified water throughout the country. The Company also exports some of its products to other countries within and outside Africa.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
