The company had earlier declared final dividend payment of 80 kobo per share (paid 30kobo earlier in the year) when it released its results. The Board has now approved the dividend payment resulting in a total dividend payment of 110 kobo per 50 kobo per share for 2012, in line the Company’s 50 percent dividend payout ratio. The proposed dividend amounting to N396,857,293.80 is payable subject to withholding tax at the appropriate rate, and will make the total gross dividend for the fiscal year 2012 after including the payment of an interim dividend of 30 kobo per 50 kobo ordinary share, amount to N545,568,231.38 (that is 110 kobo per 50 kobo share).
Reason for Poor Results
Consolidated Breweries plc has attributed the decline in its profit after tax (PAT) for the full year 2012 to losses from merged and acquired businesses, “which have been consistently improving their financial results since their respective acquisitions, and interest cost.. For the short term, interest cost will continue to impact PAT.”
