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   Market Date: 21-10-2014   
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NB set to pay N7.87bn final dividend

Category: Corporate Earnings

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NB set to pay N7.87bn final dividend

As a follow up to its interim dividend of 40 kobo per share, Nigerian Breweries Plc has concluded plans to pay a final dividend of N7.87 billion to its shareholders for the 2006 financial year.


The Managing Director/Chief Executive Officer of the company, Mr. Michiel Herkemij, made this statement at the Pre-Annual General Meeting media briefing in Lagos on Tuesday.


He stated that the amount if approved by its shareholders translates to a dividend of N1.04 per share representing a total dividend of N1.44 per share an improvement of 37 per cent over the previous year’s dividend of N1.05 per share.


He further stated that the impressive performance of the company in 2006 was as a result of its leadership position enhanced by the strong performance of its brands in the brewery sector.


he said, “The year 2006 was a landmark year for the company. It turned 60 years and hit an unprecedented production total of 6.1 million hectoliter (85 million cartons). NB ended the market 55.1 per cent control of the total brewed products market. NB Lager had 58.5 per cent of the market while its Malt brands controlled 42.8 per cent.


He stated that it recorded a gross turnover of N86.3 billion up by eight per cent over the previous year’s turnover of N80.1 billion while its operating profit appreciated by 10 per cent from N15.4 billion in 2005 to N16.9 billion in 2006.

Its profit after tax of N10.90 billion went up by 32 per cent from N8.26 billion in 2005, share capital remained at N3.78 billion while its shareholders’ fund stood at N36.25 billion from N34.72 billion in 2005.


He hoped that its price earnings (PE) ratio will be a true measurement and confirmation of the company’s performance as it intends to introduce programmes that will boost the fortune of the company.


He stated that its strong financial performance for the year was as a result of its continued innovation and the implementation of a cost-effective strategy.


Herkemij further stated that the company not only concentrated on product innovation, it also initiated innovative ways of dealing with its most important clients, the consumer of its product.


To this end, he disclosed that the company introduced and sponsored a variety of programmes and shows to ensure that it gives back to its consumers and to the society in general.


He identified some of the innovative products introduced in the company to include: the introduction of Gulder Max and Fayrouz soft drinks.


Concerning its future outlook, he stated that the company has confidence in Nigeria’s economic growth and will continue to invest in the country and hopes that the parent company, Heineken International will also bring in some fund whenever the need arises.


He further stated that the company hopes to maintain the growth in its volume and its market share while at the same time ensuring that it continuously look for ways to innovate so as to remain relevant and also to continue investing in market support activities.


He declared that the company will continue to improve and build new relationships with its stakeholders and ensure that it delivers value to its shareholders. - Vanguard


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