NB Plc shares suffer loss in market value by N23.99bn
NB Plc records N437.196bn revenue in 2021 financial year as profit grows by 71.8%
Despite the excruciating business environment in the country,including Covid-19 pandemic, the Nigerian Breweries(NB) Plc recording a profit growth of 71.8 % to N12.927 billion in the year ended December 31,2021 as against N7.525 billion gained in 2020 , according to the audited financial released by the company.
The statement signed by the Company Secretary/Legal Director, Uaboi Agbebaku declared a revenue of ₦437.196 billion, representing a 29.7% increase compared to ₦337.006 billion recorded during the corresponding period in 2020.
The statement said 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 (AGM) the declaration of a total dividend of ₦12.921billion at 50k per share, representing a 100% dividend pay-out ratio.
It could be recalled that the company had earlier in October 2021, paid an interim dividend of ₦3.230billion which translated to 40k per share.
The final proposed dividend of ₦9.69billion at ₦1.20k per share will be payable to shareholders upon approval on 25 April 2022.
The statement further noted that only qualifying shareholders whose names appear on the company’s Register of Members at the close of business on 9 March 2022 will be paid the final dividend. The statement noted that the Board would also recommend shareholders for their approval at the forthcoming AGM, a right of election for Qualifying Shareholders to receive new ordinary shares in the company instead of the final dividend in cash.
Agbebaku revealed that the company remains committed to delivering improved performance in the years ahead. 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.
