The board of directors of Nigerian Breweries Plc has recommended distribution of N7.9 billion as interim dividend to the shareholders of the company. Shareholders will receive a dividend per share of N1.
The interim dividend was part of the highlights of the third quarter results of the company. The nine-month report for the period ended September 30, 2017 showed that the company recorded a turnover of N254.7 billion. Profit before tax rose from N27.8 billion to N34.4 billion while profit after tax improved to N23.9 billion from the N20.1 billion.
Company Secretary and Legal Adviser, Nigerian Breweries Plc, Mr. Uaboi Agbebaku said despite the continued challenging business environment, revenue in the first nine months of the year grew compared to the corresponding period in 2016.
He added that as a result of the company’s continued focus on internal efficiencies under its cost leadership programme, results from operating activities improved, which combined with lower Net finance charges resulted in increased profitability in the period.
It added that the interim dividend is payable subject to deduction of withholding tax at the appropriate rates, on Thursday, 23rd November, 2017 to all shareholders registered in the books of the Company at the close of business on Wednesday, 15th November, 2017.
The board maintained that whilst the operating environment for the remainder of the year is expected to remain challenging, it is confident that, barring unforeseen circumstances, the company is well placed to deliver a good return on investment to shareholders.
RipplesNigeria… without borders, without fears
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: 4 yrs after completion, Kwara PHC facility inactive, rural dwellers in pains
In the middle of the night sometime in September 2019, Fatimah Ballah struggled with severe pains as she tries to...
INVESTIGATION: How Oyo State, contractors spent N1.1bn on water projects, but communities don’t have a drop
Multimillion naira water projects largely initiated by the late Abiola Ajimobi-led state government in Oyo State to benefit over 40...
INVESTIGATION: In Cross River, civil servants retire into poverty as govt looks away, squanders funds on frivolities
Thousands of civil servants in Cross River State struggle to stay alive as they are denied their gratuities and monthly...
Students suffer as contractors abandon Kano school projects after receiving over N70m
In 2019, to improve the condition of public schools in Kano State, the Federal Government disbursed millions of naira to...
SPECIAL REPORT: World Bank road projects go bad in Enugu, as state govt fails to fulfill promise
Counterpart funded road projects between the world Bank and Enugu State government have started to fail, as the state government...