By John Okoh
Nigerian Breweries Plc on Thursday, February 15, proposed a final dividend of N3.13 kobo, totalling N25,030,303,420 to shareholders per ordinary shares of 50 kobo each for the financial year ended December 31, 2017. With this result the leading beverage manufacturing company became the first company to release its audited financial account for 2017, beating Forte Oil Plc which has been first early filers in the past few financial years.
The total dividend which Nigerian Breweries is paying out to shareholders for full year 2017 currently stood at N4.13 kobo totalling N33,027,205,471, in addition to N1.00, totalling N7,996,902,051 interim dividend that was paid earlier in 2017.
Shareholders are expected to consider the 2017 financial account at the company Annual General Meeting (AGM) which will scheduled for April 20, 2018, at the Muson Centre Onikan in Lagos.
If the proposed final dividend is approved, it will be subject to deduction of withholding tax at the appropriate rate and the dividend will become payable electronically, on April 23, 2018, directly into the bank account of all shareholders whose names appears on the company’s register of members at the close of business on March 6, 2018. However ,shareholders who are yet to complete the e-dividend registration are advised to contact the nearest banks before February 28, 2018 or contact their registrars.
Details of the Nigerian Breweries Plc 2017 audited account shows that revenue grew by 9.8 percent from N313,743 billion in 2016 to N344,563 billion in 2017. Profit before tax was up by 17.5 percent from N39,622 billion in 2016 to N46,572 billion in 2017. Profit after tax also grew by 16.2 percent from N28,397 billion in 2016 to N33,009 billion in the period under consideration. Earnings per shares was up by 15.6 percent, from 350 in 2016 to 413 in 2017.
Meanwhile, the issued and fully paid up share capital of the company as at December 31, 2017, was 7,996,902,051 ordinary shares of 50 kobo each. The register of members’ shows that three companies, Heineken Brouwerijen B.V holds 37.76 percent, Distilled Trading International B.V holds 15.47 percent and Stanbic Nominees Nigeria Limited holding 13.28 percent, held more than 10 percent of the company issued share capital as at the said date. The remaining 33.49 percent of the issued shares were held by other individuals and institutions
