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NB plc dividend payment subject to shareholders’ approval
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Nigerian Breweries has proposed a final dividend of N14.7 billion, of 195 kobo per ordinary share of fifty (50) kobo each in the share capital of the company.
The dividend, which is subject to appropriate withholding tax deduction is payable on 29th May, 2008 out of the amount standing to the credit of the Profit and Loss Account to all shareholders registered in the books of the company at the close of business on 14th April, 2008.
The payment is subject to the approval of the shareholders at the Annual General Meeting scheduled for the 28th of May, 2008.
The company had recently declared a turnover of N111.7 billion turnover for the financial year ended 31st December, 2007. This result is a 29 per cent increase over the N86.3 billion declared for the 2006 financial year.
The Result released by the company’s Board of Directors shows a Profit Before Taxation (PBT) of N27.8 billion, an astronomical 70% increase over the N16.4 billion recorded in 2006.
Profit After Taxation (PAT) stood at N18.9 billion in 2007 showing a 74 per cent increase over N10.9 billion declared for the 2006 financial year.
Having paid an interim dividend of N4,159,409,287, that is, 55 kobo per share in October 2007, the total dividend payable in respect of the year ended 31st December, 2007 would be N18,906,405,850, that is, 250 kobo per share. The total dividend of 250 kobo per share would represent an increase of 74% over the 144 kobo per share paid in the 2006 financial year.
According to the Board of Directors, the growth of the brewed products market continued in 2007 with Nigerian Breweries Plc gaining market share to reinforce its leadership position. The growth, the Board said, has been largely due to strong consumer demand, continuous improvement in product packaging and the launch of Star, Heineken and Amstel Malta in Cans.
The dividend, which is subject to appropriate withholding tax deduction is payable on 29th May, 2008 out of the amount standing to the credit of the Profit and Loss Account to all shareholders registered in the books of the company at the close of business on 14th April, 2008.
The payment is subject to the approval of the shareholders at the Annual General Meeting scheduled for the 28th of May, 2008.
The company had recently declared a turnover of N111.7 billion turnover for the financial year ended 31st December, 2007. This result is a 29 per cent increase over the N86.3 billion declared for the 2006 financial year.
The Result released by the company’s Board of Directors shows a Profit Before Taxation (PBT) of N27.8 billion, an astronomical 70% increase over the N16.4 billion recorded in 2006.
Profit After Taxation (PAT) stood at N18.9 billion in 2007 showing a 74 per cent increase over N10.9 billion declared for the 2006 financial year.
Having paid an interim dividend of N4,159,409,287, that is, 55 kobo per share in October 2007, the total dividend payable in respect of the year ended 31st December, 2007 would be N18,906,405,850, that is, 250 kobo per share. The total dividend of 250 kobo per share would represent an increase of 74% over the 144 kobo per share paid in the 2006 financial year.
According to the Board of Directors, the growth of the brewed products market continued in 2007 with Nigerian Breweries Plc gaining market share to reinforce its leadership position. The growth, the Board said, has been largely due to strong consumer demand, continuous improvement in product packaging and the launch of Star, Heineken and Amstel Malta in Cans.
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