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NESTLE Declares N22.98 Bln PAT in Q3 2017 Result,(SP:1230.00k)

Proshare
Monday, October 30, 2017 10:15AM / NSE

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”The Company posted a revenue growth of 43% for the 9-month period ending September  2017 supported by strong consumer and dist1bution-led activities as well as benefitted  from the pricing  effect of last year. This growth is an affirmation of the loyalty and trust that our consumers have in our brands, despite pressure on disposable income and tough market conditions. 

Net profit for the period has increased substantially due to internal cost saving initiatives, operating efficiency and a significant reduction in the net financing costs.
 

The Board and management remain committed to unlocking the potential of the business supported by our strategic roadmap. The Company will further increase investments behind brands and route-to- market activities while proactively managing input cost pressures.”
 

Interim Dividend
 
The directors have the pleasure to inform the shareholders and the general public of the declaration of an interim dividend of N15.00 (2016: Nil) per share on the issued share capital of 792,656,252 (2016: 792,656,252) ordinary shares of 50k each composed of N13.00 from the balance of the pioneer profits of the Company as at 31 December, 2015 and N2.00 from the retained earnings of the Company as at 31 December, 2015 (2016: Nil and Nil) per share amounting to a total! Interim dividend of N11, 889,843,780.00 

The interim dividend is payable on the issued share capital of 792,656,252 (2016: 792,656,252) ordinary shares of 50 kobo each held by each member of the Company registered in the books as at the close of business on Friday, 24 November 2017. The interim dividend will be paid o0 Monday, 11 December 2017 and it is only the N2.00 that is to be paid from the retained earnings of the Company as at 31 December, 2015 that will be subject to the deduction of withholding tax at the applicable rate at the time of payment.
 

The Register of Members of the Company will be closed from Monday, 27 November 2017 to Friday, 1 December 2017, both dates  inclusive, for the preparation and payment of the interim dividend.
  

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