By Our Correspondent

Lagos (INVESTADVOCATE)-Food & Beverage Giant, Nestle Nigeria Plc has increased its dividend payment by 67.26 percent (67.26%) in year 2012 end.

This was part of the Corporate Action of the Company in its Result Announcement released Wednesday on the Floor of the Nigerian Stock Exchange (NSE) and made available to www.investadvocateng.com in Lagos Nigeria.

To record the increase of 67.26% in the review period, Nestle Nigeria in year 2011 end paid a final dividend of N11.06 Kobo to its shareholders compared with N18.50 Kobo proposed in year 2012 end.

Nestle further affirmed that payment date would be May 10 2013 and Closure date of Register of Members who are to benefit from the dividend payment is between April 29-May 03 2013 after the Company’s Annual General Meeting (AGM) scheduled for May 09 2013.

A review of the Audited Results For the Year Ended December 31 2012 showed that Profit After Tax (PAT) of Nestle increased from N16.496 billion in year 2011 to N21.137 billion in year 2012; indicating an increase of 28.1%.

While Profit Before Tax (PBT) in the review period was N18.199 billion in year 2011 compared to N25.050 billion in the 2012 Audited Year End; showing a growth of 37.6% in the review period.

Turnover went up from N97.961 billion in year 2011 to N116.707 billion in 2012 end; representing an increase of 19.1%.

As at the end of trading today, the shares of Nestle inched closer to N1,000 as it closed at N981.00 compared to N910.00 it closed to previous day to record an increase in share price of 7.80%.