Nigerian Breweries, through a press release, has disclosed that the company has recommended a total dividend valued at N12.92 billion to be paid to its shareholders for the 2021 financial year.
According to the press release, the recommendation represents the total dividend of N1.60k per ordinary share of 50kobo each. This consists of an interim dividend of N0.40k which was paid in December 2021, while the final dividend of N1.20k per share is expected to be paid to the shareholders of the company on 22nd April 2022.
The Managing Director of the company, Mr. Hans Essaadi, speaking at the Pre- AGM media briefing held in Lagos on Thursday, April 7, 2022, described the 100% dividend payout recommendation as clear evidence of the company’s commitment to delivering superior value to its shareholders in terms of dividends.
What they are saying
Mr. Essaadi further explained that the improved performance for the year could be attributed to the growth of other income for the financial year, which grew from N0.83billion to N4.63Billion between the corresponding period in 2020 and the current year.
“As a company, we are committed to delivering values to our stakeholders, people, community, trade partners, consumers, and most especially our shareholders by continuing to deliver good financial results and give good returns on investments despite the challenge economic and operating environment,” he stated.
What you should know
- Furthermore, the press release stated that the Audited financial result for the period ended December 2021, revealed that marketing, distribution, and administrative expenses experienced a sharp rise from N89.66billion in the 2020 financial year to N123.14billion in the current financial year, representing a 37.3% increase.
- A breakdown of the audited results shows that its Profit after Tax (PAT) increased significantly from N7.52billion to N12.93billion between the just-ended financial year and the previous year. The company’s 2021 financial year result shows that it recorded net revenue of N437.20 billion against the N337.01 billion recorded in the previous year.