Business

Nigerian Breweries Hits 29.7% In Revenue Growth

Nigerian Breweries Plc has said its revenue for the 2021 financial year rose by 29.7 per cent to N437.19bn from N337.01bn in 2020.
A statement by the Company’s Secretary/Legal Director, UaboiAgbebaku, said the breakdown of the 2021 audited results showed that the company’s profit grew by 71.8 per cent from N7.53bn in 2020 to N12.93bn in 2021.
According to Agbebaku, the Board of Directors commended the management for placing the company on the path to recovery from the debilitating impact of the COVID-19 pandemic and other challenges faced during the year.
“The board would be recommending to shareholders at the forthcoming annual general meeting the declaration of a total dividend of N12.92bn at 50 kobo per share representing a 100 per cent dividend payout ratio,” he said.
He also noted that the company had earlier in October 2021 paid an interim dividend of N3.23bn, which translated to 40 kobo per share.
The statement said further that the final proposed dividend of N9.69bn at N1.20 per share would be payable to shareholders upon approval on April 25, 2022.
It continued that only qualifying shareholders whose names appear on the company’s register of members at the close of business on March 9, 2022 would be paid the final dividend.
Agbebaku said the company remained committed to delivering improved performance in the years ahead.
He said it would also continue to deploy cost-efficient measures to keep its balance sheet strong and healthy while ensuring that the safety and welfare of its employees, customers, and partners remain well protected.

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