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.