Nestle Nigeria Plc has issued a notice of the company’s 53rd Annual General Meeting.
The meeting will be held on Wednesday, June 29, 2022, at Nestle Nigeria’s head office, 22-24 Industrial Avenue, Ilupeju, Lagos at 11:00 am.
According to the notice of the meeting issued by the company, the following ordinary business will be transacted.
- To lay before the meeting the report of the directors, the financial statements of the year ended 31 December 2021 and the reports of the auditors and the audit committee thereon.
- To declare a final dividend.
- To elect/re-elect directors.
- To authorize the Directors to fix the remuneration of the auditors among others.
The Corporate Affairs Commission (CAC) has approved that the AGM shall only be by proxy due to the restriction on mass gatherings in the Coronavirus Disease Health Protection Regulations 2021, according to the company.
Members who are entitled to attend and vote at the AGM are advised to select from the under-listed proxies to attend and vote in his/her stead.
Nestle Nigeria Plc (NGX: NESTLE) proposed a final dividend of N25.50 per 50 kobo ordinary share for the year ended 31 December 2021.
The recommended dividend is subject to appropriate withholding tax and approval at the Annual General Meeting.
The proposed final dividend is in addition to the interim dividend of N25.00 per share that was paid in December 2021. If approved, the total dividend Nestle would have paid to its shareholders is N50.50.
Nestle reported a revenue of N351.822 billion and a profit of N61.87 billion for the 2021 financial year. With 792,656,252 outstanding shares, the profit earned for the year translates to an Earnings Per Share (EPS) of N50.51 (2020: N49.47).
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.