Nigerian Breweries Offers N37.205b Dividend | Independent Newspapers Limited
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Nigerian Breweries Offers N37.205b Dividend

Posted: May 6, 2015 at 12:04 am   /   by   /   comments (0)

By Sylvester Enoghase and Bamidele Ogunwusi, Lagos

 

The board and management of the Nigerian Breweries Plc will expect the company’s shareholders to approve a dividend of N4.75 per ordinary share of 50 kobo each which translates to N37.205 billion for the 2014 financial year ended December 31, 2014.

The company had earlier paid an interim dividend of N1.25 per share or N9.453 billion and a final dividend of N27.751 billion or N3.50 per ordinary share of 50 kobo each.

The company posted revenue of 266.372 billion from N268.613 billion, profit before taxation dropped by 1.3 percent to N61.461 billion from N62.240 billion recorded in 2013, while profit after tax closed at N41.520 billion from N43.080 billion recorded in 2013.

Chairman, of the company, Kolawole Jamodu, while addressing journalists at its pre-annual general meeting on Tuesday in Lagos, said the socio economic environment under which the company operated in 2014 was a very challenging one not only for the brewed product sector alone but indeed for the private and public sectors of the economy.

He said: “During the year, we commenced and concluded the merger process with Consolidated Breweries Plc resulting in our enlarged company. At the end of 2014, and arising from that business combination, we had 11 brewery locations as well as 19 products in our portfolio of brands. With the merger, we have truly lived up to our mission statement being ‘the leading beverage company in Nigeria, making high quality brands to deliver superior customer satisfaction”

“In 2014, our enlarge company executed the biggest innovation agenda ever in the year. The year started with the launch of the first and only light beer in the Nigerian market, Star Lite, the clean, crisp and truly refreshing lager beer. The new product is a unique fusion of Star Lager blended with citrus juice. Gulder also underwent a bold and revolutionary change with an innovative masculine bottle”, he added.