Unilever Ghana pays first dividend since 2019 

By Issah Mohammed, GNA  

Accra, May 23, GNA – Shareholders of Unilever Ghana PLC will for the first time since 2019 receive a dividend of 40 pesewas per share as the company intends to split a dividend of GH¢25 million for the year 2023. 

The payment would be made on June 24, 2024, to holders of shares whose names were registered in the Register of names of members at the close of May 22, 2024, the company announced during its Annual General Meeting (AGM). 

For the year under review, the company realised a profit of GH¢ 141 million compared to GH¢15 million in the previous year. 

Mr Edward Effah, Chairman of the Board of Directors attributed the positive performance to the 44 per cent turnover growth driven by price increase, improved innovations, and investment in brand equity. 

“I would like to thank the group’s employees led by an exceptional management team for delivering an outstanding performance in 2023 by combining remarkable growth in margins with record cash generations” he said. 

He also disclosed that the Unilever PLC, the parent company in 2023 agreed to write off GH¢ 75 million royalties due them for the period of 2019 to 2021. 

“The write off has become necessary because the future cash flows of Unilever Ghana PLC are not expected to be sufficient to pay historic and future royalties charges and dividends,” he said. 

Mr Chris Wulff-Caesar, Managing Director of the company explained that the personal care category delivered a strong underlying sales growth of 45.3 per cent, while the beauty and well-being category delivered a sales growth of 110 per cent. 

He also noted that the home care category recorded a sales growth of 30.7 per cent, while the nutrition business group experienced an underlying sales growth of 90 per cent. 

Mr Sampson Ashong, the General Secretary of the Shareholders Association in an interview with the Ghana News Agency said he was happy the company had turned the corner and would pay dividends. 

“We don’t pay this year and next year we are back to non-payment of dividends. It was for that reason that we wanted them to tell us the pragmatic steps they are taking to ensure that we have continuous dividends,” he said.