Nestle Ups Shareholding in Nigerian Unit, Buys Additional 77,501 Shares

By
Esan Bolaji
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Insider Dealing Brandspurng Nestle S.A Acquires 229,697 Shares in Nestle Nigeria Plc

Nestlé S.A, has acquired 77,501 additional shares in its Nigerian subsidiary, Nestlé Nigeria Plc worth N108,501,400.00.

Brand Spur Nigeria gathered that the acquisition was undertaken on May 21, 2021.

Previously, the consumer giant acquired more shares in the last one year. You can check more detail of shareholding transactions here.

  • 77,501 Shares – NGN 1,400 per share

A look at Nestle Nigeria Financials in 2020

Profit before tax fell from N71.124 billion to N60.638 billion, while profit after tax printed at N39.212 billion, compared with N45.683 billion in 2019.

Insider Dealing Brandspurng Nestle S.A Acquires 229,697 Shares in Nestle Nigeria Plc

Food segment profit slipped 15.8 per cent to N39.6 billion, while beverage segment profit edged 0.8 per cent lower to N24.8 billion in 2020.

Nestle Nigeria Plc also decided to dip its hands into its retained profit to pay shareholders a higher dividend for the year ended December 31, 2020.