Firm excites shareholders with attractive dividend

Notwithstanding the negative outing of the equities’ market in 2015, which manifested in the remarkable decline in market capitalization, some quoted companies were able to survive the tough period, recorded improved performance and declared attractive dividends to shareholders.
   
Among such companies is the Nigerian Breweries Plc, which has consistently added value to shareholders investments with its dividend payouts.
  
The company’s board of directors had in 2013 financial year recommended the payment of a total dividend of N34, 032, 169, 944, which translated to N4.50 per ordinary share of fifty kobo each.
   
Also, during the company’ s 69th annual general meeting held in Lagos, the shareholders received a total dividend of N37.205 billion, which, from available records, was the biggest cash payout in the history of the company.

The amount translated to dividend of N4.75 per ordinary share of fifty kobo each.
     
The  Chairman, Board of Directors of the company, Chief Kola Jamodu said the board had earlier paid an interim dividend of N9.453 billion (N1.25 per ordinary share of fifty kobo each) in October 2014.
 
For the half-year ended June 30, 2015, the company reported a revenue of N151.7 billion, which represented an increase of 7.2 per cent above the N141.5 billion recorded in the corresponding period of 2014. It posted a gross profit of N30.99 billion and an after-tax profit of N21.5 billion.
   
Nigerian Breweries Plc, which is the largest brewing company in Nigeria, is a subsidiary of the internationally Heineken N.V. of the Netherlands, which has a 54.10 per cent stake in Nigerian Breweries Plc.