NB Offers N1.9bn Interim Dividend, Blames Flat Numbers On COVID, Inflation

The board of Nigerian Breweries Plc has recommended an interim dividend of N1.9bn with a payout of 25 kobo per share, from its N7.05bn net profit reported at the end of its operations for the nine-month ended September 30, 2020.

The interim dividend is payable on Tuesday, December 1, 2020 to all shareholders registered in the books of the company as of Friday, November 20, 2020

According to the unaudited results filed at The Nigerian Stock Exchange, net revenue was flat at N234bn, compared to the N235.7bn reported in the corresponding perio of 2019.

The marginal decline, was attributed to factors such as the increase in Excise Duty, the impact of inflation, the increase in Value Added Tax from 5% to 7.5%, “and most importantly, the impact of the COVID-19 on most businesses across the world.”

According the statement signed by the company Secretary/Legal Director, Uaboi Agbebaku, NB “will continue to focus on efforts to mitigate the impact of the pandemic on its operations, while protecting the health, safety and welfare of employees, customers and partners.”