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Home Markets Equities Stock Market

NB Plc to pay N5.52 billion dividend, says shareholders can receive new shares

Omokolade Ajayi by Omokolade Ajayi
February 20, 2021
in Stock Market
Nigerian Breweries quotes additional series of Commercial Papers on the FMDQ Exchange 
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Nigerian Breweries Plc is set to reward shareholders of the company with N5.52 billion as dividend for the period ended 31st December 2020.

This is in line with the Board’s recommendation as the dividend is subject to the deduction of the appropriate withholding tax, and approval by shareholders of the company at the Annual General Meeting slated for 22nd of April 2021.

According to the notification issued by the Company Secretary, Uaboi G. Agbebaku, at the close of trading activities, the dividend declared by Nigerian Breweries on a per-share basis was pegged at 69 kobo per share. This puts the total dividend to be paid to shareholders at N5,517,862,415.19.

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READ: Heineken buys 3.3million additional units of Nigerian Breweries shares

Shareholders can opt to receive new shares of the company

The Board of the Company however provided shareholders with the option to receive new shares of Nigerian Breweries, as Qualifying Shareholders have the right of election to receive new ordinary shares in the company instead of the final dividend in cash. This election is required to be made on or before the 10th of April, 2021.

In view of this, the Reference Share Price for the purpose of determining the number of shares due to Qualifying Shareholders who elect for the share option will be a ten-day trading average of the Company’s share price on the floor of The Nigerian Stock Exchange, starting on the 11th of March, 2021.

READ: AIICO Insurance Plc shareholders approve increase of authorized capital to N20 billionV

What you should know

  • It is important to note that the dividend declared is subject to appropriate withholding tax and the approval of shareholders at the Brewer’s next Annual General Meeting.
  • Qualifying Shareholders: The dividend will be paid to shareholders whose names appear in the Register of Members as at the close of business on the 10th of March, 2021.
  • Payment Date: On the 23rd of April, 2021, the dividends will be paid electronically to Qualifying Shareholders
  • To qualify for the dividend payment: Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend mandate Activation Form, which is available at, complete same and submit to the Registrar of their respective Banks.

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Tags: AIICO Insurance - NewsNigerian Breweries Plc
Omokolade Ajayi

Omokolade Ajayi

Omokolade Ajayi is a graduate of Economics, and a certificate holder of the CFA Institute’s Investment Foundation Program. He is a business analyst, and equity market researcher, with wealth of experience as a retail investor.

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Comments 1

  1. Funsho oludiran (Mrs) says:
    June 20, 2021 at 4:01 pm

    I need information the names of 3 good companies l can buy shares,and receive good dividend at the end of a financial year, l am a civil servant , response will be greatly appreciated thank you

    Reply

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