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Nigerian Breweries declares N3b interim dividend

Category: Corporate Earnings

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Nigerian Breweries declares N3b interim dividend

November 01, 2006/guardian




For shareholders of Nigerian Breweries Plc, the current financial year may be better in terms of return on investment as an interim dividend has been declared by the board of directors.

Specifically, the directors, rising from a board meeting held in Malta, in Europe declared a gross dividend of N3.025 billion, which translates to 40 kobo per share and it is expected to be paid on Monday, November 13, 2006 to shareholders in the company\'s register at the close of business today.

In a letter sent to the Nigerian Stock Exchange on the interim dividend, the company said the register of members and transfer books would be closed on Tuesday, November 7, 2006 to Friday, November 10, 2006 for the purpose of an updated register of members.

The company had in 2005 declared a total dividend of 105 kobo, with an interim dividend of 25 kobo earlier declared, while another 80 kobo was declared at the yearly general meeting held in May this year.

The company\'s turnover for the 2005 financial year stood at N80.2 billion, indicating a nine per cent increase over N73.5 billion declared in 2004, on an operating profit of N15.4 billion.

Turnover for the first six months of 2006 stood at N40.3 billion, while operating profit increased from N9 billion during the same period in 2005 to N10.2 billion.

The board had earlier, while declaring the mid-year result, assured shareholders that barring any unforeseen circumstances, the final result of this year is expected to be better than that of last year.

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