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UAC Nigeria 2011 Earnings Impressive, Net Income at N 10 billion, Proposes N 1.50 Dividend

By on April 3, 2012

UAC Nigeria, one of the country’s leading conglomerates, and consumer goods manufacturers has released its Financial Year End 2011 audited financial statements.

The company reported a 21% increase in headline Revenues at N 63.5 billion from N 52 billion in 2010.

The company also grew other income by 897% to N 7 billion from N 724 million in 2010.

Profit before tax charges was N 12.9 billion, up 83% from N 7 billion in 2010.

Net Income came in at N 10.2 billion, up 87% from N 5.4 billion in the preceding year.

The company also grew its cash reserves by 110%, they now stand at N 15 billion, up from N 7.2 billion in 2010.

The board of the company has proposed a N 1.50 dividend to reward shareholders. The qualification date for the dividend is May 18th, whilst payment date is 21st June. Closure date is 21st to 25th of May.

The company’s annual general meeting comes up on the 20th of June at the Golden Tulip hotel in Festac.