Unilever Nigeria Declares ₦2 Dividend Amid NGX Profit Surge

Unilever Nigeria has announced an interim dividend of ₦2 per ordinary share, which is subject to withholding tax. Shareholders must be on the register by the close of business on October 30, with payment scheduled for November 18.

A holding of 1,000 qualifying shares would yield ₦2,000 before tax. Shareholders are advised to verify their e-dividend mandates with Greenwich Registrars, while prospective buyers should confirm the settlement timetable with their brokers.

Meanwhile, NGX Group reported a nine-month pretax profit of ₦20.58 billion, reflecting an increase of approximately 83.3%. However, the company experienced a 62.6% rise in third-quarter operating expenses, which outpaced revenue growth of 36.4%.

Consequently, quarterly operating profit fell by 3.6% to ₦4.25 billion, and profit after tax declined by 7.1% to ₦4.33 billion. Investors are encouraged to assess management's explanations and the expense breakdown before interpreting the nine-month growth rate as indicative of current earnings momentum.