Unilever Nigeria Plc has approved an interim dividend payout of ₦11.5 billion to shareholders after its net profit rose 20 per cent to ₦26.4 billion in the first nine months of 2026.
The proposed dividend of ₦2 per ordinary share follows an improvement in the company’s financial performance despite pressure on household disposable incomes and consumer demand during the third quarter.
According to Brandspur Brand News, the dividend will be paid, subject to applicable withholding tax, to shareholders whose names appear on the company’s register as of the close of business on October 30, 2026.
Unilever Nigeria’s unaudited results for the nine months ended September 30 showed revenue increasing by 18 per cent to ₦184 billion, up from ₦155.4 billion recorded during the corresponding period of 2025.
Gross profit grew more sharply, rising 34 per cent to ₦85.5 billion from ₦63.9 billion a year earlier. The improvement lifted the company’s gross profit margin to 46.4 per cent, compared with 41.2 per cent in the same period last year.
Operating profit also increased by 27 per cent to ₦38.5 billion, indicating stronger profitability across the company’s operations.
Managing Director Tobi Adeniyi said the results reflected the resilience of the business, although consumers faced increasing pressure on their spending power during the third quarter.
He said the company had concentrated on improving product availability, delivering value to consumers, introducing relevant innovations and maintaining operational discipline.
Adeniyi added that Unilever Nigeria was working to strengthen its product portfolio through targeted brand investments and more accessible innovations to support sustainable growth.
The company also reaffirmed its commitment to investing in its brands, operations and workforce, citing the long-term potential of the Nigerian market.
Its latest performance comes against a backdrop of constrained household disposable incomes, a factor Adeniyi identified as a challenge for consumer demand during the reporting period.
Despite the pressure, the company recorded double-digit growth in revenue and net profit, while its gross profit margin improved by 5.2 percentage points compared with the corresponding period of 2025.
The interim dividend provides shareholders with a payout following the company’s improved earnings, with the total distribution amounting to ₦11.5 billion.
The payment will be subject to the applicable withholding tax and the company’s stated eligibility requirements.
