Unilever to pay dividends quarterly

UNILEVER Caribbean, manufacturer and distributor of products such as Dove and Cif, has announced that it will increase its payments of dividends from a semi-annual basis to a quarterly basis.

The company made the announcement in a notice posted on the Trinidad and Tobago Stock Exchange’s website on June 18.

The notice said the company decided to increase dividend payments because of its financial performance and availability of free cash flow.

In its financial reports for the year ending December 31, 2024, released on April 30, Unilever reported $28.7 million in profits, a $10 million increase over the same period in 2023.

The company earned a revenue of $229 million as compared to $204 million the year before. It also saw an increase in gross profits, from $94.1 million in 2023, to $104.9 million in 2024.

Chairman Daniela Bucaro, in her remarks, said the company’s performance was attributable to its agility, its ability to focus on volume growth and cost-saving measures implemented to increase its operating margin.