Nigeria Breweries Shareholders Approve N4.50 Dividend

Yesterday in Lagos, Shareholders of Nigerian Breweries Plc, approved the proposal by its board to pay N4.50 dividend per share, just as its share price closed at N 158.60 each on the nation’s bourse, after chalking 354 kobo.

According to Nicholals Vervelde, Managing Director and Chief Executive Officer (MD/CEO) of the company, NB has maintained its leadership position in the market despite the numerous challenges that confronted the company in the past business year.

“Despite the difficult operating environment, we recorded growths in all segments of the market and indeed out-performed the market. We sustained our enviable leadership position in the market,” he said.

He explained that the company’s operating activities increased by 7 per cent, while profit after tax grew by 13 per cent, even though further impacted by lower financing costs.

Vervelde added that the total brewed market recorded significant growth, while the company’s investments over the years and most recently with acquisitions and subsequent merger of the acquired companies placed it in the best of positions to compete.


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