GSK Shareholders Receive N538m Dividend

Shareholders of GlaxoSmithKline Consumer Nigeria Plc received a dividend of N538.14 million for the year ended December 31, 2021.

The shareholders gave their approval for the dividend to be paid at the company’s 51st annual general meeting(AGM)held in Lagos. The dividend amounted to 45 kobo per share, representing a 11.11 per cent increase from the 40 kobo declared in 2020.

The shareholders appreciated this growth and reaffirmed their belief in the leadership of the company to grow the business into the next year.

According to the financial statement of the firm for the period under review, revenue grew by 5.42 per cent to N22.445 billion, compared to N21.30 billion recorded in 2020. Also, profit after tax for the year under review rose by 5.88 per cent to N658.81 million from N622.23 million in 2020.

Speaking at the AGM, the chairman of  GlaxoSmithKline Consumer Nigeria, Mr Edmund Onuzo thanked shareholders for their support throughout the year and promised that the Board and Management will continue to explore opportunities for the growth, profitability and sustainability of the company.

Onuzo commended the Nigerian government’s efforts to achieve economic stability in the system and stated that the country will remain on the path of growth and development if the several economic reforms of the government are diligently implemented.

“It is encouraging to note that the Nigerian government is constantly adopting different mechanisms to diversify the Nigerian economy from the single-minded posture that largely depends on oil revenue for foreign exchange.

“Whilst we appreciate the efforts of the government, it is important to enjoin them to maintain the focus on improving the operating environment with more policies aimed at providing a more conducive environment for businesses to thrive,” he said.

In his remarks, the managing director of GlaxoSmithKline Consumer, Mr Kunle Oyelana said the achievement in the year under review is reflective of a collaborative effort from all key stakeholders of the healthcare delivery subsector.

According to Oyelana, GSK is committed to remaining Nigeria’s leading healthcare company, with its pharmaceuticals, vaccines, and consumer healthcare products allowing Nigerians to do more, feel better, and live longer.

“We are pleased with the results for 2021, it spoke to our dedication and partnership with stakeholders in ensuring growth in the business and the resilient spirit of the GSK team. We will continue to evolve to ensure sustained growth in our business operations bordered around our three business areas of pharmaceuticals, vaccines and consumer healthcare,” he said.