Unilever, Chevron oil release results as chevron declares N7.50 dividend.
April 26th, 2008 Ikechukwu Emelike || ikechukwu@stockmarketnigeria.com
By Ikechukwu Emelike.
Unilever Nigeria Plc has released its five years financial summary for 2003 – 2007 period to the floor of the Nigerian Stock Exchange. Turnover of the company in the five year financial summary was N34 billion in year 2007 compared to N19 billion in year 2003 indicating an increase of 79 percent. Profit before tax of the company decreased slightly from N2.77 billion in year 2003 to N2.01 billion in year 2007 indicating a decrease of 27.53 percent. Also profit after tax declined from N1.87 billion in 2003 to N1.29 billion in 2007 showing a decline of 31 percent. Gross Profit also rose from N9.14 billion in 2003 to N11.41 billion in year 2007 representing a rise of 25 percent.
The members of the board at the 83rd annual general meeting held in Lagos approved a dividend payout of 0.25 kobo to investors of the company. It would be worthy of note that the last time investors enjoyed a dividend payout was in years 2003 and 2004 when it paid 0.60 Kobo and 0.70 Kobo dividends respectively. While nothing was paid in years 2005 and 2006 respectively.
Chevron Oil Nigeria Plc.
Chevron Oil Nigeria Plc has made public its audited results for the full year ended 31 December 2007. A break down of the just released result showed that the company increased its turnover by 10.17 percent from N65.90 billion in 2006 to N72.60 billion in 2007. Profit before tax for the period under review appreciated by 61.62 percent from N1.85 billion in 2006 to N2.99 billion in 2007. After tax profit stood at N1.95 billion in 2007 as compared to N1.31 billion in 2006 indicting an increase of 48.85 percent.
The company has proposed a dividend payout of N7.50, its closure date is 5 June, 2008 and its payment date is 7 July, 2008.
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