By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Beverage maker Nestle Nigeria Plc has increased its dividend payment by 30 percent in its 2013 audited year end and will pay 24.00 naira compared to 18.50 paid in 2012 end.

From the company’s result released Wednesday to the Nigerian stock exchange (NSE) and made available to InvestAdvocate, to record the increase of 30 percent in the dividend offered to investors of the company, Nestle Nigeria in year 2012 end paid a final dividend of 18.50 naira to shareholders of the company compared the 24.00 proposed in year 2013 end.

This is the third consecutive time in a row the beverage maker has declared dividend to its shareholders. A review of this shows that in 2011, the company paid 11.06 naira and increased it to 18.50 naira in 2012; and now has proposed 24.00 naira dividend.

Nestle said that qualification date is April 25, 2014 and closure date of register of members who are to benefit from the dividend payment is April 28, while its annual general meeting (AGM) has been scheduled for May 12, 2014.

A review of the audited results for the year ended December 31, 2013 showed that profit after tax (PAT) of Nestle increased slightly from N21.137 billion in year 2012 to N22.257 billion in year 2013; indicating an increase of 5.3 percent. The slim growth in PAT could be linked to the notable rise in interest expense by 16.13 percent.

Profit before tax (PBT) in the review period was N25.050 billion in year 2012 compared to N26.047 billion recorded in the 2013 audited year end; showing a growth of 4.0 percent.

Nestle said revenue went up from N116.707 billion in year 2012 to N133.084 billion in 2013 end; representing an increase of 14.0 percent.

As at the end of trading today, the shares of Nestle lost -28.69 naira as it opened 1,100.00 naira and closed N1, 071.31 naira