June 22, 2019/Cadbury Nigeria Plc
Cadbury Nigeria Plc (“Cadbury Nigeria” or “the Company”) today announced a dividend of N471million for its shareholders, in line with its current efforts to create more value for investors. Mr. Atedo Peterside, Chairman, Cadbury Nigeria, made this known at the Company’s 54th annual general meeting (AGM), in Lagos over the weekend.
Attributing the Company’s positive growth in the year under review to success of its cost-cutting measures, effective marketing strategy, and superlative performance of its various brands, he assured that Cadbury Nigeria will continue to sustain its dividend policy.
He added: “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.”
Shareholders at the AGM applauded the Company for increasing its dividend payment from 16 kobo in 2017, to 25 kobo in 2018. They charged Cadbury Nigeria to continue to evolve ways of consolidating on the performance of its brands, while exploring other options including local manufacture of Hot Chocolate 3 in 1, which is currently imported from Ghana, to create more jobs locally.
They also commended Mondelez International and the Board of Directors of Cadbury Nigeria for the appointment of Mrs. Oyeyimika Adeboye as the first female Managing Director of the Company, effective 1st April, 2019. In their various remarks, the shareholders said the appointment has restored confidence in the ability of Nigerians to lead multinationals. However, they charged Mrs. Adeboye, who took over from Mr. Amir Shamsi, to justify her elevation by sustaining the momentum and taking the Company to greater heights. They also welcomed the appointment of Mr. Ogaga Ologe, the Company’s erstwhile Financial Controller, who was appointed as the new Finance Director.