Business

Cadbury Nigeria rewards its shareholders with N471 million divihdend

Cadbury Nigeria Plc has rewarded its shareholders with a total dividend of N471 millionn for the financial year ended Dec. 31, 2018, in line with its current efforts to create more value for investors.

Mr Atedo Peterside, Chairman, Cadbury Nigeria, made the disclosure at the company’s 54th Annual General Meeting (AGM), in Lagos on Friday.

The  dividend translated to 25k per share when compared with 10k paid to the shareholders in the comparative period.

Addressing the shareholders, Peterside attributed the company’s positive growth during the year under review to success of its cost-cutting measures, effective marketing strategy and superlative performance of its various brands.

The chairman also assured the shareholders that Cadbury Nigeria would continue to sustain its dividend policy.

“We re-launched our iconic cocoa beverage drink, Bournvita, with a new improved taste, last year, in line with consumers’ tastes and preferences.

“Feedback from consumers indicate that the new Bournvita has gained wide acceptance.

“Cadbury Hot Chocolate 3-in-1 brand, our treat portfolio, recorded substantial growth, driven by its unique offering, while our gum and candy brands also recorded success in their respective categories.

“In addition, we sustained our current price competitiveness, and increased our Route-to-Market coverage/footprint in 2018,” he said.

Responding on behalf of the shareholders, Mr Boniface Okezie, National Coordinator, Progressive Shareholders Association of Nigeria, urged the company to continue to evolve ways of consolidating on the performance of its brands.

Okezie called on the company to explore other options, including local manufacturing of Hot Chocolate 3 in 1, which was currently imported from Ghana, to create more jobs locally.

He commended Mondelez International, the company’s majority shareholder and the Board of Directors of Cadbury Nigeria for the appointment of Mrs Oyeyimika Adeboye as the first female Managing Director of the company.

He said the appointment had restored confidence in the ability of Nigerians to lead multinationals.

He, however, charged Adeboye, who took over from Mr Amir Shamsi, to justify her elevation by sustaining the momentum and taking the company to greater heights.

Okezie also welcomed the appointment of Mr Ogaga Ologe, the company’s erstwhile Financial Controller, who was appointed as the new Finance Director.

Cadbury Nigeria Plc, is the pioneer cocoa beverage manufacturer offering some of the most loved brands in the country.

Cadbury Nigeria is a 74.99 per cent-owned subsidiary of Mondelēz International, a global snacking powerhouse with an unrivalled portfolio of brands.

The remaining 25.01 per cent of shares are held by a diverse group of indigenous, individual and institutional investors.

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