Good times are here for shareholders of the Nigerian Breweries Plc, as the company announced that it will be paying a final dividend of N14,603,027,891; which is N1.83 per ordinary share of 50 Kobo each for the period ended December 31, 2018. This is subject to the deduction of the appropriate withholding tax and approval at the Annual General Meeting of the Company slated for Friday, May 17, 2019.
While bonus share is not applicable, the company disclosed that the Register of Members will be closed from Thursday, March 7, 2019, to Wednesday, March 13, 2019. Only shareholders whose names appear in the Register of Members as at the close of business on Wednesday, March 6, 2019, will be paid.
Hopefully, the dividends will be paid electronically to eligible shareholders by Monday, May 20, 2019. This only applies to shareholders who had already completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.
Full-year 2018 poor performance
Nigerian Breweries Plc obvious had an unimpressive 2018, looking at their audited full-year 2018 results. Revenue for the period stood at N350.2 billion, which is a decrease of 4.3% from 2017 revenue of N365.7 billion.
The company also witnessed a dip in profit before tax in 2018. PBT was N29.4 billion in 2018 compared to N46.6 billion in 2017, which is a 36.9% decrease.
The company’s profit after tax (PAT) also dropped from N33 billion in 2017 to N19.4 billion in 2018; this represents a 41.2% decrease.
This drop in revenue and profit may as a result of stiffer competition from other brewers in the period under review.
About the company
Nigerian Breweries Plc is the pioneer and largest brewing company in Nigeria. It serves the Nigerian market and exports to other parts of West Africa. The firm engages in brewing, marketing, and selling of lager, stout, non-alcoholic drinks, and soft drinks in Nigeria.
The company was formerly known as Nigerian Brewery Limited before it changed its name to Nigerian Breweries Plc in 1990. The company was founded in 1946 and is headquartered in Lagos, Nigeria.
Nigerian Breweries is currently trading at ₦83 on the floor of the Nigerian Stock Exchange (NSE).