(Ecofin Agency) - Nigerian Subsidiary of Agro-food dealer Nestlé offered its shareholders a dividend of N29 per share, after a year which has proven quite challenging given the country’s economic environment. The dividend comprises N10 interim payment for 2014 and N19 per share dividend for 2015.

Overall, the firm, which exports to neighboring countries, had positive results. Total turnover hiked to N151.27 billion, 6% higher than 2014’s N143.2 billion. The performance is explained by sales exploding in Nigeria (N148.24 billion), Niger, Ghana and Guinea Conakry.

Due to a better control of operating costs, the group recorded a gross profit of N30 billion, increasing 20%, and a net profit rising 7% to N23.7 billion.

On the Nigeria Stock Exchange where Nestlé is listed, its share plunged (-1.47%) on March 17, 2016, with a low level of traded volume. This could imply an isolate action of small investors aiming to make profit.

Idriss Linge