The Board of Directors of Giant brewer, Guinness Nigeria Plc, has proposed a dividend of approximately N4.82 billion in respect of the year ended 30 June 2015, translating to 320 kobo per 50 kobo ordinary share.
The recommended dividend, if approved at the Annual General Meeting, will be paid to shareholders on 27th November 2015.
The brewer had earlier on announced its full year results for the period ended 30th June 2015 reporting a 9 per cent increase in net sales during the year.
Revenue for the period rose by 8 per cent from N109.202 billion in the corresponding period of 2014 to N118.495 billion, profit before tax depreciated by 8 per cent from N11.681 billion to N10.795 billion, profit after tax dropped to N7.794 billion from N9.573 billion, representing a drop of 19 per cent, basis earnings per share went down by 19 per cent from 636 kobo in 2014 to 518 kobo.
The company’s Managing Director/Chief Executive Officer, Peter Ndegwa, who commented on the result, said: “We delivered a 9 per cent increase in net sales during the year in a tough trading environment largely driven by the growth in our RTD category and value beer segment.”
“Our gross profit also grew by 9 per cent. During the year, we continued to invest significantly behind our brands and our route to consumer expansion and these, together with the high interest environment, have driven a profit before tax decline of 8 percent.”
The results reflect strong volume growth on the back of year-on-year impressive performance of its innovation and value brands.