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Unilever Embraces e-Dividend, Appoints Director

Category: Capital Market

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Unilever Embraces e-Dividend, Appoints Director

By Goddy Egene, 04.20.2010

Shareholders of Unilever Nigeria Plc will from the 2010 financial year begin to receive their dividends electronically as the company plans to implement  payment of electronic dividend(e-Dividend).

E-dividend, which was launched by the Securities and Exchange (Commission) in 2008, is the electronic crediting of shareholders' bank accounts with the dividend due to them once they have been approved at Annual General Meeting (AGM). Many companies have been implementing  the scheme.In a  statement to the shareholders ahead of their AGM to hold in Lagos on April 29, 2010, obtained by  THISDAY last Monday, Unilever  said it will begin full implementation of the e-dividend with effect from 2010.

“The company supports the introduction of e-dividend in order to reduce the incidence of unclaimed dividends, avoid incidence of stolen warrants, eliminate the delay or loss associated with postage as well as the inconveniences associated with revalidation of dividend warrants currently being encountered by shareholders,” the statement said.

Unilever explained that with the introduction and implementation of the e-Dividend scheme, shareholders will have immediate access to their   dividends once their bank accounts have been credited.Apart from the e-Dividend, the company said it will also implement the use of e-Bonus for all future bonus shares issued. The company therefore, advised all shareholders to complete the e-Dividend and e-Bonus forms so as to enjoy all the benefits.

Unilever recorded an impressive performance for the year ended December 31, 2009, recording a turnover of N44.481 billion, up by 19 per cent from N37.377 billion in 2008. However, net profit jumped by 58 per cent from N2.596 billion to N4.093 billion.Based on the this performance, the directors have recommended a dividend of N2.573 billion, which shows an increase of 172 per cent above the N946 million paid in 2008.

Meanwhile, Unilever Nigeria has appointed Mrs. Tolulope Agiri to its Board as Human Resources Director effective March 1, 2010.According to a statement by the Corporate Manager of the company, Mr. Yemi Adeboye, Agiri has about 17 years experience in Human Resources Management especially in the areas of Career Management and Training, Compensation and Benefits, Human Resources Business Partnering and Leadership Development.

The statement explained that  Agiri, who holds an Honours Degree in Psychology from Obafemi Awolowo University, Ile- Ife and Masters Degree in Industrial Relations and Personnel Management from University of Lagos, has worked at Arthur Andersen (now KPMG Professional Services) from where she joined Unilever in 2002.In Unilever, she has occupied various positions among, which were Learning Director Unilever Africa, Middle East and Turkey and later Leadership Development Director.


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