Business
Guinness shareholders approve N5bn dividend
A dividend of N4.8bn has been approved by shareholders of Guinness Nigeria Plc, a subsidiary of Diageo Plc, for the period ended June 30, 2015 with a pledge by the board and management to maintain sustainable growth for the business through good business strategies and quality products.
Each shareholder earned a dividend of 320 kobo per 50 kobo ordinary share from the approximately N4.82 billion declared for the financial year, payable from 27th November 2015.
The Chairman of the company, Babatunde Savage, speaking at the 65th Annual General Meeting in Abuja on Thursday, said although the operating environment remained daunting during the period under review, the company recorded a credible performance in its full year results and is now poised for better performance in the 2016 financial year and beyond.
“Going into the 2016 financial year, the board and management are resolute in their commitment to improve the performance of the company and deliver greater value and return on investments to shareholders,” he stated.
In the area of corporate social responsibility, the Chairman stated that the company has continued to maintain a strong focus on impactful projects across its host communities, be it in the area of health, water provision, environmental protection and road safety.
Read also: NAFDAC, Guinness argue over N1bn fine
Responding to questions on the issue of sanctions on the company announced by the National Agency for Food and Drugs Administration and Control (NAFDAC) over alleged infractions, Savage emphasized that Guinness would continue to explore every path for a fair resolution of the matter.
Besides approving the 2015 financial result, shareholders also endorsed other resolutions tabled before them at the event, including the re-election of directors, approval of a dividend and election of members of the Audit Committee, the appointment of PricewaterhouseCoopers as the new auditors of the Company and the remuneration of the Directors.
A general mandate resolution on related party transactions, which is a requirement of the Nigerian Stock Exchange, was also passed.
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