Unilever declares N11.5bn interim dividend as profit grows

Unilever Nigeria Plc has declared an interim dividend of N11.5bn as its net profit rose to N26.4bn for the nine-month period ended 30 September 2026, driven by continuous growth in revenue and profitability, strong brand fundamentals, disciplined operations, and effective route-to-market execution.

According to the company’s unaudited financial statement released to the market, total revenue for the period reached N184.0bn, representing an 18 per cent increase compared with N155.4bn recorded in the corresponding period of 2025.

Gross profit increased 34 per cent to N85.5bn from N63.9bn in the prior-year period, with gross margin improving to 46.4 per cent from 41.2 per cent. Operating profit rose 27 per cent to N38.5bn, while net profit grew 20 per cent to N26.4bn compared with N21.9bn in 2025.

Following the financial performance, the company’s Board of Directors approved an interim dividend of N2.00 per ordinary share, subject to applicable withholding tax. The dividend will be payable to shareholders whose names appear on the Register of Members as of the close of business on 30 October 2026, bringing the total interim payout to N11.5bn in line with its commitment to value creation.

Commenting on the financial results, the Managing Director of Unilever Nigeria Plc, Tobi Adeniyi, said, “Our performance in the first nine months of 2026 reflects the underlying strength and resilience of our business. While consumer demand came under increased pressure in the third quarter as household disposable incomes remained constrained, we stayed focused on delivering value, strengthening availability, executing relevant innovation and maintaining disciplined execution.

“This focus delivered consistent revenue growth, a 34 per cent increase in gross profit, and 20 per cent growth in net profit. We continue to build a more balanced portfolio through sharper choices, accessible innovation and targeted brand investment that strengthen consumer preference and support sustainable, profitable growth.”

He added, “We remain confident in the long-term potential of Nigeria and are committed to investing responsibly in our brands, operations and people. Our priority is to build on these strong fundamentals, strengthen performance across the portfolio and create enduring value for consumers, customers, shareholders and our wider stakeholder community as we work to Brighten Everyday Life for All Nigerians.”

Jide, a seasoned journalist with over 12-year experience, reports business-related stories