For Guinness' shareholders, it's a win win situation
Category: Investors NewsBeat
Yes, shareholders of the brewery giant, Guinness Nigeria Plc have cause to smile, at least, to replace their frowned faces which more or less explains the dire situation of things in the stock market. There is no doubt that they would hold on tight to their holdings in Guinness to edge against the losses they have incurred on their bank stocks which now know no other place than the pit.
After another brilliant performance culminating in the release of the audited result for the year ended 30th June, 2009, Guinness is rewarding its shareholders with a mouth-watering dividend, N7.50k per share. The Board of Directors which recommended the dividend pay-out might have done so to show the resilience of the company they are presiding over in this turbulent period.
According to the company, the date of closure of register is October 2, 2009 while payment date is November 4, 2009. The 59th Annual General Meeting is scheduled to hold at Grand Banquet Hall, Civic Centre, Victoria Island, Lagos on Tuesday, November 3, 2009 by 10.00a.m.
Therefore, the AGM would be devoid of the acrimony, which has thrown many annual general meetings held this year into confusion. The shareholders will also be emboldened by the superb result to ask salient questions on the company's operations and suggest the way forward.
For most part of last week, the stock of Guinness was stable on the Nigerian Stock Exchange(NSE) as the price which opened at N130.05 on Monday closed on Friday at N130.37. Although, last Friday's close was lower than the N135.10 recorded the previous week's close. This week, a flurry of activities is expected in the Guinness Nigeria stock on the NSE as investors take position to share from the dividend payout.