Unilever Nigeria has significantly increased its interim dividend for half-year 2026, distributing N2 to shareholders for every share owned. This marks a fourfold increase compared to the payout for the corresponding period last year, despite a modest 8.3 per cent rise in net profit.

The consumer goods manufacturer reported a post-tax profit of N15.6 billion for the period, setting a new record for its half-year performance. This substantial dividend payout means N11.5 billion, equivalent to 73.7 per cent of the post-tax profit, will be allocated to equity investors.

Revenue for the period advanced by 22.2 per cent, also reaching N15.6 billion. However, the pace of earnings growth was tempered by a general surge across various cost categories.

The food business continues to be a dominant contributor to turnover, accounting for 64.3 per cent of sales, an increase from 59.8 per cent previously. Key brands in this segment include Blue Band Margarine, Lipton Yellow Label, and Knorr Cubes.

The company has intensified its focus on local sourcing to mitigate the impact of exchange rate fluctuations on imported raw materials. According to its 2025 Sustainability Report, Unilever Nigeria scaled up local sourcing to 60 per cent last year, engaging over 10,000 farmers to strengthen its value chain.

This strategy aims to enhance supply security, reduce exposure to foreign exchange volatility, and foster shared value within Nigeria’s economy. In the period under review, total assets decreased to N177.2 billion from N180.2 billion, primarily due to a 12.3 per cent depression in cash and cash equivalents resulting from lower fixed deposit income.