Business
Nigerian Breweries to pay N33bn dividend
Nigeria’s largest brewer–Nigerian Breweries Plc– will be distributing a final dividend of N25 billion for the 2017 business year, raising the total payout for the year to N33 billion.
The board of directors of Nigerian Breweries has announced that the company will be paying a final dividend per share of N3.13, in addition to interim dividend of N1 earlier paid to shareholders, bringing the total dividend per share for 2017 to N4.13. Nigerian Breweries had in November 2017 distributed N8 billion as interim dividend.
The audited report and accounts of the company for the year ended December 31, 2017 showed that total sales rose by 10 per cent from N313 billion in 2016 to N344 billion while profit after tax grew by 16 per cent from N28.4 billion in 2016 to N33 billion.
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Company Secretary, Nigerian Breweries Plc, Mr. Uaboi Agbebaku, noted that whilethe foreign exchange situation improved in the course of the year, double digit inflation continued to impact both businesses and consumers.
He said the company was able to end the year with improved results through continuous focus and execution of the twin agenda of cost leadership and market leadership supported by innovation.
He pointed out that while there are some early signs of improvement in the macro-economic condition, this is yet to be reflected in consumer confidence.
The board expressed optimism that the company has a clear strategy to deliver good return on investment to shareholders as part of its commitment to winning with Nigeria
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