NIGERIAN BREWERIES Plc BREAKS DIVIDEND PAYMENT RECORD

Nigerian Breweries Plc has continued to put bold smiles on the faces of its shareholders and other stakeholders as the brewing giant breaks its 70-year old dividend payment record.

The 2015 audited results showed that the Company’s shareholders would earn a total dividend of N4.80 (Four Naira Eighty Kobo) per unit of the company’s ordinary share of fifty kobo each for the 2015 financial year. If approved by shareholders at the upcoming Annual General Meeting, it would be the highest dividend ever paid by the company in its 70-year history.

Currently, Nigerian Breweries is the second most capitalized company on the Nigerian Stock Exchange (NSE). The company paid out a total dividend of N37 billion (N4.75 kobo per ordinary share of 50 kobo each) for the financial year ended December 31, 2014.

The Company had in October 2015, paid an interim dividend of N9.5 billion that is, N1.20 (one naira twenty kobo). Thus, the final dividend will be N28.5 billion that is, N3.60 per share (three naira sixty kobo). According to the company, the proposed final dividend will be subject to deduction of withholding tax at the appropriate rate and will be payable on the 12th of May, 2016, to all shareholders whose names appear on the Company’s Register of Members at the close of business on the 2nd of March, 2016.

A look at the audited results show that Results from Operating Activities closed at N62 billion in 2015 while the Profit before Tax stood at N54 billion in the same period. Profit after tax was N38 billion

Speaking to financial journalists at the pre-Annual General Meeting, AGM in Lagos on Thursday, the Managing Director of the Company, Nicolaas Vervelde explained that the Company was able to achieve strong results and deliver good returns on investment to shareholders due to its twin agenda of Cost Leadership and Market Leadership supported by Innovation.

The Cost Leadership Agenda, he remarked, was anchored on “Every Naira Counts” programme which was to ensure that the business is run in the most efficient way. The programme, according to him, contributed significantly to the 2015 results in the face of a difficult operating environment.