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NB Offers N1.51 Dividend Per Share, As Net Profit Drop By 37.5%

The board of Nigerian Breweries Plc, on Thursday presented its audited report for the full-year ended December 31, 2019, showing that margins dropped across all line items, including the profit which fell by N3.296bn, or 17% from N19.401bn in the prior full year to N16.105bn.
As a result, the dividend declared for the period dropped by N11.195bn or 37.5% from N29.828bn at the end of 2018, to N18.633bn, representing N2.01 dividend per share, which fell by 17.3% from the previous N2.43 each.
For the just-concluded year, the directors have proposed a final dividend of N12. 075bn, representing N1.51 per share for consideration at the annual general meeting slated for April 22, 2020, down from N1.83 in 2018. Payment is billed for April 23, to shareholders whose names appear in the company’s register of members at the close of business on March 4, 2020. The register of members, therefore, closes between March 5 an 11, 2020.
According to details of the result, net revenue slipped marginally from N324.389bn, down by 0.4% to N323.002bn.

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