Nestlé declares highest-ever dividend at 32nd AGM

Tuesday, 11 June 2013 00:00 - - {{hitsCtrl.values.hits}}

Nestlé Lanka PLC, a leading nutrition, health and wellness company in Sri Lanka, held its 32nd Annual General Meeting (AGM) in Colombo recently, chaired by its Chairman and Head of Nestlé in the South Asian Region Antonio Helio Waszyk.

Shareholders re-elected Pierre Schaufelberger and Mahen Dayananda to the Board and approved a final dividend of Rs. 24.00. With an interim dividend of Rs. 30.00 paid in March 2013, the full year dividend payout of Rs. 54.00 per share is the highest ever paid by the company.

At the meeting, Waszyk highlighted Nestlé’s commitment to Sri Lanka: “Nestlé and Sri Lanka have a long, strong bond. We are the country’s largest private sector buyer of fresh milk and the largest exporter of value added coconut products. In 2012, in line with our ‘Creating shared value’ strategy, we extended our relationships with local farmers across the island.

“We procured a record high of 54 million kilograms of milk and 54 million coconuts; marking our highest ever contribution of Rs. 4 billion to the rural economy by way of raw material procurement.” Nestlé Lanka directly employs 1,223 people and contributes to the livelihoods of over 23,000 more.

The company has significantly accelerated its investment in Sri Lanka over the last two years; with Rs. 3.2 billion in capacity expansion alone.

Reviewing the group’s 2012 results, the Chairman stated that the company was able to deliver 11.7% growth despite difficult market conditions and was named Sri Lanka’s tenth most valuable brand in LMD’s recently published Brands Annual publication, which ranks the country’s ‘Top 100 most valuable brands for 2013’. It is the only food company to be ranked within the top 10.

Underlining Nestlé’s ambition to be the recognised leader in nutrition, health and wellness, Waszyk said: “As a leading nutrition, health and wellness company, we recognise that food is a conscious way to bring health and nutrition benefits.

We want to offer our consumers tastier and healthier food and beverage choices.

“We are therefore constantly improving the nutritional value of our products, such as reducing sugar and sodium while making sure that our products continue to taste good. We are also continuing to identify nutritional ‘gaps’ in diets and are focusing on fortifying our products with essential micronutrients such as iron, vitamin A and zinc. It is this strategy that creates value for our consumers, creates value for society, and for our company.”

Speaking on the company’s future plans, the Chairman stated that Nestlé had a cautiously optimistic outlook for the year. “We do not expect 2013 to be any easier, but remain focused as always on the long term regardless of short term challenges. We will continue to deliver to the very best of our ability.”