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UNILEVER declares PAT of N 5.29 billion

Revenue increased by 17.3% over the last year. Dividend of N 1.4 kobo per share has been proposed which will yield a lowly 4.5%, hardly an invitation for new investors to buy its stock.

April 12 (Lagos) - Unilever Nigeria Plc has declared a Profit after tax of N 5.49 billion for full year 2011, a big increase from N 4.18 billion in 2010. Top line revenue increased by 17.3% to N 54.72 billion in 2011 from N 46.80 billion in 2010.

Company has proposed a dividend of N 1.40 kobo per share which amounts to N 5.29 billion. Unilever Nigeria plc owns brands including Blue band, Lux soaps, Knorr, Omo, Close up, Lipton tea, Vaseline, lifebuoy among others.

Shares of Unilever Nigeria Plc currently trade for N 30.99 at the Nigerian Stock Exchange in Lagos. The dividend yeild of 4.5% is not exactly mouth watering to fresh shareholders. A bank deposit currently gives investors a higher return so altought the company has proposed to spend most of its profit on the dividend, it may not boost its stock price.

reporting for easykobo.com on Thursday, April 12 2012 from Lagos, Nigeria