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Nigerian Breweries declares N0.25 interim dividend after nine-month profit fell by N5bn

Nigerian Breweries declares N0.25 interim dividend after nine-month profit fell by N5bn

Nigerian Breweries Plc Thursday said it would pay its shareholders an interim dividend of N0.25 on every unit of common stock held by its shareholders.

This is coming on the heels of the release of its nine month to September 2020 financial statements, where the beer-maker reported a 42% or N5.188 billion drop in after-tax profit from N12.242 billion to N7.054 billion.

The dividend is a 50% depreciation in the interim dividend announced by the company about this time last year which stood at N0.50 per share.

Read also: Nigerian Breweries’ half-year profit falls by 58%, turnover by 12%

Nigerian Breweries said in its note to the Nigerian Stock Exchange (NSE), signed by Uaboi Agbebaku that the register of members would be closed from 23rd to 27th November preparatory to the dividend payment.

Dividend will be paid on 1st December to shareholders whose names appear on the company’s register of members as of 20th November.

Shares in Nigerian Breweries opened trade on the floor of the NSE on Friday at N52 per share.

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