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Nigerian Breweries Plc Recommends ₦12.92b Dividends For Shareholders

Nigerian Breweries Plc Recommends ₦12.92b Dividends For Shareholders

The Board of Directors of Nigerian Breweries Plc, Nigeria’s foremost brewer, has recommended a total dividend valued at ₦12.92 billion for its shareholders for the 2021 Financial Year (FY).

The recommendation represents a 100 percent payout with a total dividend of ₦1.60k per ordinary share of 50kobo each.

Having been paid an interim dividend of ₦0.40k in December 2021, shareholders of the company are expected to receive a final dividend of ₦1.20k each on 22nd April 2022.

Speaking at the Pre- AGM media briefing held in Lagos on Thursday, April 7, 2022, the Managing Director of the company, Mr. Hans Essaadi, described the 100 percent dividend payout recommendation as clear evidence of the company’s commitment to delivering superior value to its shareholders in terms of dividends.

The company’s 2021 financial year result shows that it recorded net revenue of ₦437.20 billion against the ₦337.01 billion recorded in the previous year.

Essaadi further explained that the improved performance for the year could be attributed to the growth of other income for the financial year, which grew from ₦0.83billion to ₦4.63Billion between the corresponding period in 2020 and the current year.

“As a company, we are committed to delivering values to our stakeholders, people, community, trade partners, consumers, and most especially our shareholders by continuing to deliver good financial results and give good returns on investments despite the challenge economic and operating environment,” Essaadi stated.

According to the FY result for 2021, marketing, distribution, and administrative expenses experienced a sharp rise from ₦89.66billion in the 2020 financial year to ₦123.14billion in the current financial year, representing a 37.3% increase.

A breakdown of the audited results shows that its Profit after Tax (PAT) increased significantly from ₦7.52billion to ₦12.93billion between the just-ended financial year and the previous year.

About Author

Aina Adepeju is a Mass Communication graduate. Adepeju loves photography. She is a Member of the Nigerian Institute of Public Relations (NIPR) and Advertising Practitioners Council of Nigeria (APCON). Adepeju can be reached via [email protected]

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