The board of directors of Nigerian Breweries Plc has announced a 10.3 per cent rise in revenue from N266 billion recorded in 2014 to N293 billion in the 2015 financial year.
The 2015 audited results filed with the Nigerian Stock Exchange show that the company’s shareholders would enjoy a total dividend of N4.80 per ordinary share of 50k each for the 2015 financial year. If approved by shareholders at the upcoming annual general meeting, the amount would be the highest dividend ever paid by the company in its 70 year history.
The company had earlier paid an interim dividend of N9.5 billion that is, N1.20. Thus, the final dividend will be N28.5 billion that is, N3.60 per share. According to the statement, the proposed final dividend will be subject to deduction of withholding tax at the appropriate rate and will be payable on the May 12, 2016, to all shareholders whose names appear on the company’s register of members at the close of business on March 2, 2016.
A look at the audited results show that results from Operating Activities declined by 6.9 per cent to close at N62 billion in 2015 from N66 billion achieved in 2014.
Profit before tax dipped by 11.3 per cent from N61 billion at the end of the 2014 financial year to N54 billion in the same period in 2015 while Profit after tax dipped by 10.5 per cent to N38 billion in 2015 from the N42 billion posted in 2014. The results were impacted by reduced consumer purchasing power and increased cost of doing business mainly due to inflation and devaluation.
