NBL declares ₦16 billion profit, earns ₦323 billion
for 2019
Nigerian Breweries Plc has announced
a profit after tax of ₦16.1 billion for the 2019 Financial Year. According
to the audited financial results released to The Nigerian Stock Exchange, the
Company also made a Revenue of ₦323 billion during the period.
The statement further stated that
the Board of Directors will be recommending to the Company’s Shareholders at
the Annual General Meeting coming up on the 22nd of April, 2020, the
declaration of a total dividend of ₦16.07 billion, that is, ₦2.01k
per share representing a hundred percent dividend pay-out ratio.
The Company had earlier, in 2019,
paid an interim dividend of ₦3.9 billion which translated to ₦0.50k
per share; thus, the final dividend will be ₦12.07 billion, that
is, ₦1.51k per share. If the proposed final dividend is approved, this
will become payable on the 23rd of April, 2020 to all shareholders whose names
appear on the Company’s Register of Members at the close of business on the 4th of
March, 2020.
In the statement signed by the
Company Secretary/Legal Director, Uaboi Agbebaku, the 2019 Profit after Tax was
lower than the ₦19.4 billion recorded in 2018 representing a 17 per cent
decline, while the Revenue also dipped from the ₦324.3 billion recorded in
2018, signifying a 0.4 percent decline. Mr. Agbebaku says that the 2019 Results
were adversely impacted by the second instalment of the increased excise duty
rates that came into effect during the year and a challenging operating
environment
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