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Nigerian Breweries declares N1.50 kobo interim dividend

Category: Capital Market

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Nigerian Breweries declares N1.50 kobo interim dividend


The board of directors of Nigerian Breweries Plc has announced an interim dividend of N1.50 kobo per share for the third quarter ended September 30, 2009.



Briefing the council of the Nigerian Stock Exchange (NSE), NB Plc explained that the date of closure of register of members is January 27, 2010 while payment date is scheduled for February 8, 2010. NB Plc had in its second quarter result recommended N1.30 per share dividend for its over 129,000 shareholders.



Information made available indicates that the foremost company in its third quarter ended September 30, 2009, declared N21.3 billion profits up from N17.7 billion in 2008. Also within the period, turnover increased from N102.3 billion in 2007 to N118.9billion in 2008. Also in its 2009 half-year result ended June 30, 2009, NB Plc announced N16.8 billion profit, up by 36.6 per cent over N12.3 billion recorded in 2008.



Operating profit as at June, according to the company, climbed up to N24.6 billion against N18.1billion in 2008 while turnover stood at N82.7 billion from N68.1billion, about 21.5 per cent. "Higher turnover, benefits from continuing investments and improved operating efficiencies resulted in an increase in operating profit from N17.6 billion in the first half of 2008 to N24.6 billion in the corresponding period for 2009. As a result, the profit after tax increased by 37 per cent to N16.9 billion for the first half of 2009," said Nigerian Breweries Plc.



With over 129,000 shareholders, the company's turnover for the financial year ended December 31, 2008 was N145.5 billion. The operating profit was N36.8 billion and it paid out a total dividend of N25.7 billion, amounting to 340 kobo per 50 kobo share.



(Source: Guardian)

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