NBL declares ₦16 billion profit, earns ₦323 billion for 2019

Nigerian Breweries Plc has announced a profit after tax of ₦16.1 billion for the 2019 Financial Year. According to the audited financial results released to The Nigerian Stock Exchange, the Company also made a Revenue of ₦323 billion during the period.

The statement further stated that the Board of Directors will be recommending to the Company’s Shareholders at the Annual General Meeting coming up on the 22nd of April, 2020, the declaration of a total dividend of ₦16.07 billion, that is, ₦2.01k per share representing a hundred percent dividend pay-out ratio.

The Company had earlier, in 2019, paid an interim dividend of ₦3.9 billion which translated to ₦0.50k per share; thus, the final dividend will be ₦12.07 billion, that is, ₦1.51k per share. If the proposed final dividend is approved, this will become payable on the 23rd of April, 2020 to all shareholders whose names appear on the Company’s Register of Members at the close of business on the 4th of March, 2020.

In the statement signed by the Company Secretary/Legal Director, Uaboi Agbebaku, the 2019 Profit after Tax was lower than the ₦19.4 billion recorded in 2018 representing a 17 per cent decline, while the Revenue also dipped from the ₦324.3 billion recorded in 2018, signifying a 0.4 percent decline. Mr. Agbebaku says that the 2019 Results were adversely impacted by the second instalment of the increased excise duty rates that came into effect during the year and a challenging operating environment


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