NB Plc approves N1.9bn dividend for shareholders for third quarter


The Board of Directors of Nigerian Breweries Plc has declared an interim dividend of N1.9bn for his shareholders with a payout of N25k per ordinary share.

This was contained in the company’s results for the nine-month period ended September 30, 2020 released on Monday.

According to the unaudited and provisional results filed at the Nigerian Stock Exchange, the company made a Profit after Tax of N7.05bn during the period.

However, a breakdown analysis of the published results showed a 0.7 per cent decline in net revenue from N235.7bn in September 2019 to N234bn this year.

The statement indicated that the marginal decline could be attributed to factors such as an increase in Excise Duty, a rise in inflation, an increase in Value Added Tax from 5 per cent to 7.5 per cent and most importantly, the impact of the COVID-19 on most businesses across the world.

According to a statement signed by the Company Secretary/Legal Director, Nigerian Breweries Plc, Mr Uaboi Agbebaku, the company would 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.

He noted that the interim dividend was payable on Tuesday, December 1, 2020 to all shareholders registered in the books of the company as at Friday, November 20, 2020


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