Nigeria’s leading brewing firm, Nigerian Breweries Plc, has unanimously authorized a dividend distribution of N12.92 billion for the fiscal year 2021. The clearance was obtained at the company’s 76th Annual General Meeting, which was took place on Friday, April 22, 2022, at the Civic Centre in Lagos. The company’s management promised shareholders that it would continue to provide optimal returns on their investments.
Shareholders who spoke at the meeting characterized the total dividend distribution to shareholders as a step in the right direction following the company’s remarkable financial performance in the fiscal year 2021.
One of the shareholders who spoke at the event, Mr. Boniface Okezie, commended the board and management of the company for demonstrating an immense capacity to manage its resources prudently, which yielded exceptional performance for the company as seen in the revenue and the profit recorded for the year.
Okezie expressed satisfaction with the company for the consistent payment of dividends noting that such a gesture has endeared it to the heart of many investors.
“I would like to commend the board and management of Nigerian Breweries Plc for its consistency in paying dividends to shareholders. This alone has shown great leadership and commitment to delivering values to the shareholders. On behalf of the other shareholders, I would like to state that we are happy that despite operating challenges, including the COVID-19 pandemic and rising inflation, the leadership team has continued to manage the company and its operations efficiently. It gladdens our heart that the company has continued to reward its shareholders at a time like this when many companies cannot pay dividends”, he said.
Another shareholder, Mathew Akinlade, also praised the board and management of NB Plc for the positive result recorded in the 2021 financial year despite the daunting economic challenges and complex operating environment.
Speaking during the Annual General Meeting, the Managing Director, Nigerian Breweries Plc, Mr. Hans Essaadi, thanked the shareholders for their support, assuring them that the company remains committed to maintaining the positive growth trajectory that will ensure a regular improved dividend payment.
Essaadi noted that the company would continue to invest in all aspects of its operations to grow the business and make it more sustainable.
The Chairman of the company’s Board of Directors, Chief Kola Jamodu, disclosed that each shareholder would receive a final dividend of N1.20k each at an ordinary share of 50k, having received an interim dividend of 40k in December 2021.
Jamodu explained that despite increased competition, the company still maintains its market leadership while also ensuring good returns on investments from investors in the financial year.