By Christopher Nnanta InvestAdvocate

Lagos (INVESTADVOCATE)-Food & Beverage Giant, Nestle Nigeria Plc has increased its dividend payment slightly by 4.34 percent (4.34%) in year 2011 end.

This was part of the Corporate Action of the Company in its Result Announcement released Tuesday to the Nigerian Stock Exchange (NSE) and obtained by www.investadvocateng.com in Lagos Nigeria.

To record the increase of 4.34% in the review period, Nestle Nigeria in year 2010 end paid a final dividend of N10.60 Kobo to its shareholders compared with N11.06 Kobo in year 2011 end.

Nestle further affirmed that payment date would be April 27 2012 and Closure date of Register of Members who are to benefit from the dividend payment is between April 16-20 2012 after the Company’s Annual General Meeting (AGM) scheduled for April 26 2012 at the Muson Centre in Lagos Nigeria.

A review of the Audited Results For the Year Ended December 31 2011 showed that Profit After Tax (PAT) of Nestle increased from N12.602 billion in year 2010 to N16.808 billion in year 2011; indicating an increase of 33.4%.

While Profit Before Tax (PBT) in the review period was N18.244 billion in year 2010 compared to N18.539 billion in the 2011 Audited Year End; showing a slight growth of 1.6% in the review period.

Turnover went up from N80.105 billion in year 2010 to N97.961 billion in 2010 end; representing an increase of 22.3%.

Meanwhile, the Firm has forecast in its fourth Quarter (Q4) 2012 a Turnover of N112.972 Billion, a PBT of N19.770 billion and PBT of N16.889 billion.