Nigerian Breweries Earns ₦323 Bn, Declares ₦16Bn Profit, 2019

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…total dividend stood at ₦16.07 billion, ₦2.01k per share

…amounts represents 100% earnings-payout ratio

 

The management of Nigerian Breweries Plc has announced a profit after tax of ₦16.1 billion for the 2019 Financial Year.According to the audited financial results released to The Nigerian Stock Exchange, the Company also made revenue of ₦323 billion during the period.

 

The statement further stated that the Board of Directors will be recommending to the Company’s Shareholders at the Annual General Meeting slated to holds on the 22nd of April, 2020, and the declaration of a total dividend of ₦16.07 billion, that is, ₦2.01k per share representing a hundred percent dividend pay-out ratio.

 

The Company had earlier, in 2019, paid an interim dividend of ₦3.9 billion which translated to ₦0.50k per share; thus, the final dividend will be ₦12.07 billion, that is, ₦1.51k per share.

 

If the proposed final dividend is approved at the annual general meeting, then it become payable a day after the general meeting which will be on the 23rd of April, 2020 to all shareholders whose names appear on the Company’s Register of Members at the close of business on the 4th of March, 2020.

In the statement signed by the Company Secretary/Legal Director, Uaboi Agbebaku, disclosed that the 2019 Profit after Tax was lower than the ₦19.4 billion recorded in 2018 which representing a 17 per cent decline, while the Revenue also dipped from the ₦324.3 billion recorded in 2018, signifying a 0.4 percent decline.

 

Mr. Agbebaku attributed to the 2019 Results to adversely impact by the second instalment of the increased excise duty rates that came into effect during the year and a challenging operating environment.

 

 

The Captioned Photo: The Chief Executive Officer of Nigerian Breweries Plc, Jordi Borrut Bel

 

 

 


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