Shareholders of Nigerian Breweries Plc will continue to enjoy robust dividend payment going forward, the Finance Director of the company, Mr. Jasper Hamaker, said Tuesday.
Speaking at the Pre-Annual General Meeting of media briefing in Lagos, Hamaker said the dividend policy of NB Plc is determined by the need to balance what is paid to shareholders and what is reinvested in the company.
He said the pay-out ratio was reduced to 60 per cent before2013 when funds were needed to finance some new acquisitions. Hamaker explained that now that the acquisitions have been concluded, the pay-out ratio has been increased to 80 per cent, which, he added, would be maintained going forward.
NB Plc ended 2013 with net profit of N43.1 billion, while the directors recommended gross dividend of N34 billion, translating into N4.50 per share.
Source: Thisday
