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NB Plc declares N6bn dividend

Category: Daily & Weekly Market Updates

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NB Plc declares N6bn dividend

March 10, 2006/punch




Nigerian Breweries Plc has announced a final dividend of N6.1billion for its financial year ended December 31, 2005.

The dividend translates to 80 kobo per 50kobo share and will bring the total dividend for the year to 105kobo per share. Directors of NB Plc had last year paid an interim dividend of 25kobo per share to shareholders.

Details of the company’s audited results made available to market operators on Thursday showed a 62.3 per cent growth in profit after taxation in 2005.

PAT rose from N5billion in 2004 to N8.2billion. Turnover stood at turnover of N80.2 billion, which showed an increase of nine per cent above N73.5billion declared in 2004 while the company’s operating profit was N15.4billion, a 7.1 per cent increase above 14.4billion recorded in 2004.

The brewing company said the substantial improvement of net profit was achieved by a focus on productivity, cost reduction and cash management, which also impacted well on all other financials.

According to a statement from the company, “The increase in turnover came mostly from mix and price movements while earnings before interest and tax had lower percentage to turnover due to continued restructuring of the business to align it to the operating environment and make it stronger and more robust. 

The last two weeks have been a harvest period for investors as some companies announced their 2005 results. Cadbury paid a dividend of 130kobo while Nestle Nigeria Plc declared a final dividend of N8 per share.

Nestle had in November 2005 announced an interim dividend of N2 per share before the final dividend of N8 final dividend for the year ended December 31, 2005.

This brings to total dividend to of N10. It shows an increase of N3 or 42 per cent rise above the N7 paid in 2004.

The company recorded a turnover of N34.34billion in 2005, up by N5billion or 21 per cent from the N28.5billion posted in 2004 while profit after tax rose by N1.5bilion or 39 per cent from N3.8bilion in 2004 to N5.3billion in 2005.

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