Nigerian Breweries Plc, Managing Director/Chief Executive Officer, Mr. Nicolaas Vervelde
From Benjamin a ameh, Lagos
The management of the Nigerian Breweries NB Plc has recommended gross dividend of N34 032 169 944 billion (thirty four billion, thirty two million, one hundred and sixty nine thousand, nine hundred and forty four naira only), translating into N4.50 (four naira and fifty kobo) per share holding for the 2013 financial year ended, out of the net profit of N43.1 billion reported.
The said cash dividend will be payable on May 15, 2014 to all shareholders whose names appear on the company’s register as at close of business day on March5, 2014 including the Heineken family with total of 2 850 760 692 (37.73%) shareholding of share capital of 7 562 704 432 ordinary shares of the company value at 12 841 923 114 billion (twelve billion, eight hundred and forty one million, nine hundred and twenty three thousand, one hundred and fourteen Naira only).
Managing Director/Chief Executive Officer of the NB Plc, Mr. Nicolaas Vervelde, said the company recorded a revenue of N269 billion and profit before tax of N62.2 billion, showing an increase of 6.3 per cent and 11.9 per cent over the N252 billion and N55.6 billion respectively over recorded in 2012.
The NB plc is a cash cow for every average investor to invest in with over ten years consistency cash dividends history. For instance, shareholders of NB Plc will continue to enjoy a robust dividends payment going forward.
The Finance Director of the company, Mr. Jasper Hamaker gave further indication when he said the dividend policy of NB Plc is determined by the need to balance what is paid to shareholders and what is reinvested in the company adding that the pay-out ratio was reduced to 60 per cent before 2013 when funds were needed to finance some new acquisitions.
He pointed out that now that the acquisitions have been concluded, the pay-out ratio has been increased to 80 per cent, which, he added, would be maintained going forward.
The brewed product market
While, the chairman, NB plc, Chief Kolawole Jamodu revealed that the total brewed product market recorded a modest growth in the year under review with the value for money segment playing a significant role in that growth.
Jamodu noted that “despite the difficult operating environment. We recorded growth in all segments of the market and indeed out-performed the market.” We sustained our enviable leadership position in the market, he added.
