Nigerian Breweries posts N19bn profit for 2018

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The Nigerian Breweries, NB Plc, has declared a profit after tax of N19.4 billion for  2018

The information is contained in the audited financial results released to the Nigerian Stock Exchange, NSE yesterday. The company recorded a revenue of N324.4 billion during the year in review.

The statement from the company said that the Board of Directors will be recommending to the company’s shareholders at the annual general meeting coming up on the 17th of May, 2019, the declaration of a total dividend of N19.4 billion, that is, N2.43k per share representing a hundred percent dividend pay-out ratio.

Read also: EU provides €45m support for smallholder agri-businesses in Nigeria, other African countries

The Nigerian Breweries had in 2018, paid an interim dividend of N4.8 billion which translated to N0.60 kobo   per share. This implies that the final dividend will be N14.6 billion, that is, N1.83kobo per share.

Provided the proposed final dividend is approved, it will become payable on the 20th of May, 2019 to all shareholders whose names appear on the company’s register of members, at the close of business on the 6th of March, 2019.

The statement, which was signed by the Company Secretary/Legal Director, Uaboi Agbebaku, the 2018 profit after tax was lower than the N31.6 billion recorded in 2017 representing a forty one percent decline. The revenue also dipped from the N344.5 billion recorded in 2017, representing a six percent decline.

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