Cadbury Nigerian Plc on Tuesday, May 31, recommended a gross dividend of N1.221 billion for the year ended December 31, 2015.
The dividend, which translates to 65 kobo per share was recommended despite a 46 per cent drop in the bottom-line.
The details of the audited results made available yesterday showed that Cadbury recorded a revenue of N27.825 billion, which is nine per cent lower than the N30.519 billion.
Cost of sales crashed from N22.135 billion, from N18.894 billion. Gross profit stood at N8.930 billion, up from N8.384 billion.
Selling expenses grew from N4.878 billion to N5.621 billion, while administrative expenses jumped from N1.489 billion to N1.909 billion. Consequently, profit before tax fell by 34 per cent from N2.381 billion to N1.572 billion, while profit after tax fell by 46 per cent from N2.137 billion to N1.153 billion.
Despite the lower profit, the directors recommended a dividend of N1.221 billion, which is 65 kobo per share.