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Business News

2019 Fiscal Period: Guinness Nigeria declares N4 billion final dividend

Guinness Nigeria Plc has declared a final dividend of N1.52k per 50 kobo ordinary share which amounts to N4 billion

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Guinness Nigeria, Guinness Nigeria Announces Material Circumstances That Will Impact FY 2020, Guinness Nigeria posts N524 million profit in Q2 2020/21

Guinness Nigeria Plc has declared a final dividend of N1.52k per 50 kobo ordinary share, which amounts to N4 billion for the financial period ended Sunday, June 30, 2019.

Come Thursday, October 24, the dividend will be paid electronically to the shareholders whose names appear in the Register of Members as at the close of business on Friday, September 20, 2019.

The dividend is subject to appropriate withholding tax and approval will be paid to the shareholders.

While the Register of Shareholders will be closed from Monday, September 23, 2019, to Friday, September 27, 2019, Qualification Date has been scheduled for the September 20.

Understanding dividend: A dividend is a payment made by a company to its shareholders, usually as a distribution of profits. When a company earns a profit or surplus, it reinvests a portion in the business (retained earnings) and pays a portion as dividends to the shareholders.

Distribution to shareholders may be in cash (usually a deposit into their bank accounts) or the issuance of further shares, otherwise known as shares repurchase. The latter is usually done if the company has a dividend reinvestment plan.

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Financial results: The beverage alcohol company in Nigeria has posted a N5.5 billion Profit After Tax (PAT) in its full-year results released to the Nigeria Stock Exchange (NSE) for the 2019 business year.

During the period under review, the Company earned a revenue of N131 billion and Operating Profit for the year stood at N9 billion.

What you should know: Guinness Nigeria Plc was established in 1950 and listed on The Nigerian Stock Exchange in 1965. With a shareholder base of over 68,000 shareholders, it is also one of the foremost quoted companies in Nigeria.

The company built its first brewery in Ikeja in 1962, and currently has facilities in Ogba and Benin City.

Download the full financial report here.

 

[READ ALSO: NAICOM approves German Fund’s acquisition of Royal Exchange]

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Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ).Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.

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Coronavirus

Covid-19: WHO approves China’s Sinopharm vaccine

WHO has announced the approval of China’s Sinopharm vaccine for Covid-19 vaccination.

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Covid-19: First world nations oppose waiving intellectual rights for vaccine development

The World Health Organization (WHO) has announced the approval of China’s Sinopharm vaccine for Covid-19 vaccination.  The vaccine is reported to have 79% efficacy against covid.

This was disclosed today in a report by Reuters. The vaccine would also be the second Chinese-made vaccine after Sinovac vaccine and would be the first developed outside Europe and North America to receive WHO accreditation.

“This expands the list of COVID-19 vaccines that COVAX can buy, and gives countries confidence to expedite their own regulatory approval, and to import and administer a vaccine,” WHO Director-General, Tedros Adhanom Ghebreyesus said.

The WHO added that the easy storage requirements make it highly suitable for low-resource settings.

“Its easy storage requirements make it highly suitable for low-resource settings,” a WHO statement said while also disclosing that the vaccine has been approved for people above the age of 18 to receive two shots.

“On the basis of all available evidence, WHO recommends the vaccine for adults 18 years and older, in a two-dose schedule with a spacing of three to four weeks,” the statement added.

The vaccine was created by Beijing Biological Products Institute, a subsidiary of Sinopharm subsidiary China National Biotec Group, with an efficacy of 79% for all age groups.

The WHO however, admitted that few older adults (over 60 years) were enrolled in clinical trials, so efficacy could not be estimated in this age group.

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The quest for vaccine efficiency got a major boost earlier this week as Nairametrics reported that the United States government announced that it supports the waiver of Intellectual Property Protections on Covid-19 vaccine development, in a bid to boost the fight against the pandemic, and says it will participate in the Okonjo-Iweala-led WTO negotiation to make it happen.

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Obituaries

“Mama Taraba”, Former minister and senator, Aisha Al-Hassan is dead

Ex-Women Affairs minister, Aisha Jummai Al-Hassan, popularly known as Mama Taraba is dead

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A former Minister for Women Affairs and ex-Governorship Candidate in Taraba State, Aisha Jummai Al-Hassan, popularly known as Mama Taraba is dead.

According to media reports she died in a hospital on Friday in Cairo, Egypt at the age of 61.

Al-Hassan, who was a former senator of the Federal Republic of Nigeria from Taraba North Senatorial District, was the All Progressive Congress (APC) Governorship Candidate for Taraba in the 2015 general elections.

READ: Abba Kyari’s last letter to President Buhari

She later contested for the same seat on the platform of the United Democratic Party in the 2019 general elections after resigning from APC and as a minister in the administration of President Muhammadu Buhari on July 27, 2018.

The former senator was born on the 16th of September, 1959 in Jalingo, Taraba State, to Alhaji Abubakar Ibrahim, Sarkin Ayukan Muri.

READ: Chad’s President Deby dies of injuries suffered on the frontlines, as son takes over

Aisha Jummai Al-Hassan attended Muhammed Nya Primary School, Jalingo and LEA Primary School, Tudun Wada, Kaduna before proceeding to Saint Faith College (now GGSS) Kawo Kaduna where she studied between January 1973 and June 1977.

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