Unilever Nigeria Dips 9.8% Ahead of Qualification Date
Unilever Nigeria Plc dipped by 9.75% to close at N34.75 in the equities segment of the Nigerian Exchange as investors offloaded the consumer goods stock in the latest market rout.
The market valued Unilever Nigeria’s 5.745 billion shares at N199.351 billion following a share price depreciation. The consumer goods company share price slipped in the equities market as more than 2.44 million units valued at N84.736 million exchanged hands in the local bourse. The selloff was driven by investors’ weak sentiment in the market.
Ticker: Unilever Nigeria’s price has been steadied at N38.45 per share on the Nigerian Exchange over the last six trading sessions. Increased activity of sell-side actors seeking exit from consumer goods stock dragged the company’s market valuation down on the day—ahead of the dividend.
Unilever Nigeria Plc’s board of directors proposed a final dividend of N1.25 kobo gross for every ordinary share of 50k each, subject to appropriate withholding tax and approval. Some stockbrokers said Unilever Nigeria Plc.’s share price has been less volatile in the market, trading at a moderate discount to its 52-week high in the local bourse.
However, Broadstreet analysts maintained that price decline provides a fresh entry point for investors that seek to consolidate portfolios ahead of qualification data from dividends.
In a regulatory filing, the company picked 25 April 2025 as its qualification day for investors targeting dividend income in May. In its notice, Unilever Nigeria Plc informed the market that its final dividend will be paid to shareholders whose names appear in the Register of Members as at the close of business on Friday, 25 April 2025.
On Monday, 12 May 2025, dividends will be paid electronically to shareholders whose names appear on the Register of Members as of Friday, 25 April 2025, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts. ECOWAS Bank Approves €230m to Strengthen Infrastructure in West Africa
