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Nigerian Breweries increases dividend payout by 36%


-Proposes 340k in year 2008


Proshare NI

March 03, 2009 at 20:00 GMT


Brewing Giants, Nigerian Breweries Plc (NB Plc) has increased its dividend payout to investors in year 2008 by 36 percent (36%). This was contained in the company’s result released on the Floor of the Nigerian Stock Exchange (NSE) in Lagos Nigeria.
NB Plc increased the dividend payout from 250 Kobo paid in year 2007 Financial Year End (FYE) to 340 Kobo at its financial year ended December 31 2008.
From the result, the Board of Directors (BOD) of company has proposed the payment of 340 Kobo dividend per share to its investors for the 2008 FYE.
The cumulative dividend paid in year 2007 FYE was N18.906 billion compared to N25.7 billion in year 2008 FYE representing the 36% increase in the review period.
NB Plc affirmed that the dividend, which is subject to deduction of withholding tax, if approved at the companies forthcoming Annual General Meeting (AGM), would be paid on May 21 2009 to all shareholders registered in the books of the company at the close of business on March 27 2009.
In the same vein, Turnover of the company increased from N111.7 billion in year 2007 to N145.5 billion in year 2008 showing an increase of 30.25 percent (30.25%) in the review period.
Profit before Tax (PBT) also grew from N27.9 billion in year 2007 to N37.5 billion in year 2008, representing a growth of 35 percent (35%).

While Profit after Tax (PAT) rose for N18.943 billion in year 2007 to N25.7 billion in year 2008, indicating a rise of 36 percent in the review period.

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