Nigerian breweries declares N16.07 billion dividend payout for 2019 vanguardnews
The Board of Directors of Nigerian Breweries Plc has announced the company’s results for the 2019 financial year with a dividend recommendation of N16.07 billion for approval by its shareholders at the forthcoming Annual General Meeting scheduled for April 22nd 2020.
The recommendation is coming on the heels of the N16.1 billion Profit after Tax recorded by the company in 2019, signifying a 100% earnings-payout ratio. The N16.07 billion amounts to a total dividend of N 2.01 per share for the 2019 operating year and was part of the company’s filing to the Nigerian Stock Exchange on Thursday, 13th of February 2020. The recommended dividend is inclusive of interim dividend of N 3.9 billion, that is 50 Kobo earlier paid by the company. Subject to approval and the deduction of withholding tax at the appropriate rate, the final dividend of N12.07 billion that is, N1.
The statement also shows that profit before tax dropped to N 23.3 billion in 2019 from N 29.4 billion in the previous year, indicating a 20.5% fall. According to Mr Agbebaku, “In 2019, the results of the Company was adversely impacted by the second instalment of the increased excise duty rates which came into effect during the year coupled with a challenging operating environment”.All rights reserved.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
House probes '₦10 billion building project' by Nigerian Air ForceThe House of Reps joint committees on the Air Force and Justice on Thursday began an investigative hearing to probe the Nigerian Air Force
Read more »
Boko Haram: God using insurgency to punish Nigerians for their sins - Sultan of Sokoto - Daily Post NigeriaThe Sultan of Sokoto, Alhaji Sa’ad Abubakar lll, has declared that God was using insurgency in the Northern part of the country to punish Nigerians for
Read more »
NIRSAL facilitates N102b to stimulate agric, creates 400,000 jobsThe Nigerian Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) has confirmed that it has facilitated over N102 billion as loans
Read more »
Award-winning journalist donates cash prize to release of inmatesNigerian investigative journalist and joint-winner of the People Journalism Prize for Africa (PJPA) 2019, Fisayo Soyombo...
Read more »
Mailafia, activists back opposition to Nigeria’s alleged plan to hand $100MSome Nigerians have backed the United States’ (US) opposition to alleged plans by Nigerian government to hand about $100million the American
Read more »
EU plans Schengen visa restrictions on Nigerians – Daily TrustThe European Union is planning to tighten procedures for Nigerians to get a Schengen visa in response to the country failing to take back Nigerians staying illegally in Europe.
Read more »