NIGERIAN Breweries Plc’s board of directors has recommended a total dividend of N12.92 billion to its shareholders for the fiscal year 2021.
According to the business, the recommendation reflected a 100 percent payout, with a total dividend of N1.60k per ordinary share of 50kobo apiece.
The company’s stockholders were projected to receive a final dividend of N1.20k apiece on April 22, 2022, after receiving an interim dividend of N0.40k in December 2021.
The company’s Managing Director, Hans Essaadi, highlighted the 100 percent dividend distribution recommendation as evidence of the company’s commitment to delivering greater value to its shareholders in terms of dividends during a pre-annual media general meeting conference in Lagos.
The company’s net revenue for the 2021 financial year was N437.2 billion, up from N337.01 billion the previous year.
According to Essaadi the improved performance for the year can be linked to the increase in other income for the financial year, which increased from N0.83 billion to N4.63 billion 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,” Essaadi said.
According to the final result for the year 2021, marketing, distribution, and administrative expenses increased by 37.3 percent from N89.66 billion in the previous fiscal year to N123.14 billion in the current fiscal year.
The audited results revealed also that the profit after tax climbed from N7.52 billion to N12.93 billion between the 2021 financial year and the previous year.
