Nigeria Breweries to pay N4.50 dividend, as profits jump

Nigeria Breweries Plc has released its audited results for 2013, showing a 6.3 per cent increase in turnover and 13.2 per cent rise in Profit after tax.

The leading brewers in Nigeria declared a PAT of N69.1 billion in contrast to the N64.6 billion made a year earlier. Turnover was N268.6 billion last year, higher also than the N252 billion made in 2012.

The company has earmarked N43 billion out of the PAT to be paid out as dividends, as against the N38billion allocated in 2012.

The company’s board proposes to pay a dividend of N4.50 to all its shareholders, holding 7,562,704,432 ordinary shares of 50 kobo each subject to approval by the shareholders at the Annual General Meeting fixed for
14th May 2014.