By investadvocate

Lagos (INVESTADVOCATE)-Food/Beverage Giants, Nestle Nigeria Plc (Nestle) is set to reward investors of the Company a N10.60 Kobo dividend and 1 for 5 bonus for the Audited Year Ending December 31 2010.

The Firm in a Result Announcement Monday April 18 2011 to the Nigerian Stock Exchange (NSE) affirmed that only shareholders whose names appear on the Company’s Register at the Closure date Monday April 18 to Friday April 22 2011 will benefit from the twin reward declaration of stock and cash dividend.

Nestle further affirmed that payment date would be Friday April 29 2011 after the Company’s Annual General Meeting (AGM) scheduled for Thursday April 28 2011 at the Muson Centre in Lagos Nigeria.

Prior to this time, the Firm had at the Third Quarter (Q3) Ended September 30 2010 paid an interim dividend of N1.95 Kobo to its shareholders.

A review of the Audited Results For the Year Ended December 31 2010 showed that Profit After Tax (PAT) of Nestle increased from N9.783 billion in year 2009 to N12.602 billion in year 2010; indicating an increase of 28.82 percent (28.82%).

While Profit Before Tax (PBT) in the review period grew from N13.783 billion in year 2009 to N18.244 billion in the 2010 Audited Year End; showing a growth of 32.4%.

Turnover went up from N68.317 billion in year 2009 to N82.726 billion in 2010 end; representing an increase of 21.09% in the review period.

However, the Company has said that the rescheduled dates are due to the readjustment in the election dates.