Home Industry News Nigeria Breweries proposes 120 kobo final dividend per share, holds AGM April 22

Nigeria Breweries proposes 120 kobo final dividend per share, holds AGM April 22

by Emmanuel Ogundele
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The Nigeria Breweries Plc. has announced proposition for a final dividend of 120 kobo per share in its audited account in the fiscal year that ended December 31, 2021 as against 69 kobo per share in 2020.

The dividend was proposed based on the issued share capital of 8,075,831,900 ordinary shares of 50 kobo each, it however noted that the proposition is subject to approval by the shareholders at the Annual General Meeting (AGM).

Nigeria Breweries Plc. would be marking its 75th anniversary of doing business in the country, as it also announced that it would hold its AGM on April 22, 2022, at the Grand Banquet Hall, Civic Centre, Victoria Island, Lagos.

The NB Plc. stated that with the right strategies and structure put in place it was able to take advantage of the upswing in the market to grow not only the top line but also the bottom line, as it ended 2021 with a 30 percent growth in Net Revenue from N337 billion in 2020 to N437 billion in 2021.

It added that despite the steep rise in operating cost “we were able to grow value for business with 40 percent growth in the Results from Operating Activities (Operating Profit), from N30 billion in 2020 to N42 billion in 2021. Our cost and value initiatives.

“Even more impressive is that we grew value for our Shareholders with a 70 percent increase in the Profit After Tax which rose to N13billion from N7.5billion in 2020,” its Chairman, Board of Directors, Chief Kolawole Jamodu, said in his address at the Pre-AGM press briefing held in Ikeja, Lagos.

Marketing Manager, Nigeria Breweries Plc., Mr. Emmanuel Oriakhi, said most of the brands on parade by the brewery have been in existence more than many of the people present in the hall where the pre-AGM press briefing event took place.

Oriakhi added that Heineken has been sponsoring UEFA League for years as he noted that Lagos and Abuja would soon play host to the coveted UEFA Cup.

Its legacy brands such as Star and Gulder has been able to sustain favourable competition with other brands in what Oriakhi tagged “us versus other players in the battle of brands. 33 Export has brought value back to this category of beer.

“Maltina, 52 years after its first introduction into Nigerian market has rolled from strength to strength with huge potentials in the North, West and East. Amstel Malta, the best malt drink for those aspiring to cut down their calories because it has the lowest sugar content. Despirado, Climax and Fayruz energy drinka are doing fine while Gulder promises to be a beer of all ages. Our stout products – Legend Stout, Williams Stout and Turbo King are not performing too poorly in the market of stout. In fact Williams Stout is the known stout in Benin, Edo State,” Oriakhi said.

Director, Corporate Affairs, NB Plc., Mrs. Sade Morgan, while reeling out the sustainability programmes of the company in empowerment and recycling said Maltina impact stories since 1976 when it was introduced into the nation’s market have been very wonderful.

She cited the Maltina Dance Hall and Maltina Game as such eventful programmes from the stables of NB Plc., as she added that its vision of brewing a better is captured by the move to cut down carbon emission from its breweries by 7.5 percent starting from its Ibadan brewery and to be reciprocated in other breweries across the country.

According to Morgan, NB Plc. has committed huge resources to deforestation as it has partnered Oyo State government to plant 600,000 trees across 500 acres in the state, and that about 546 beneficiaries across the country have benefited from its empowerment programme.

She said the Maltina Teacher of the Year could only get better as winner of its last edition was hosted by the Vice President, Professor Yemi Osinbajo, in Aso Rock.

Legal Director and Secretary, NB Plc., Barr Uaboi Agbebaku, said the market is green and filled with unlimited opportunities for growth and expansion.

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