Nigerian Breweries’ Annual Revenue Increases By 29.7%

The revenue for the 2021 financial year of the Nigerian Breweries Plc increased by 29.7 per cent to ₦437.19bn from ₦337.01bn which was made in 2020.

The Company Secretary/Legal Director, Uaboi Agbebaku in a statement, noted that the breakdown of the 2021 audited results showed that Nigerian Breweries’ profit grew by 71.8 per cent from ₦7.53bn in 2020 to ₦12.93bn in 2021.

According to Agbebaku, the board of directors commended the management for driving the company to recover from the impact of COVID-19.

He said, “The board would be recommending to shareholders at the forthcoming annual general meeting the declaration of a total dividend of N12.92bn at 50 kobos per share representing a 100 per cent dividend payout ratio.”

It was disclosed in the statement released by Agbebaku that the Nigerian Breweries in October 2021 paid an interim dividend of ₦3.23bn, which translated to 40 kobos per share.

It said the final proposed dividend of ₦9.69bn at ₦1.20 per share would be payable to shareholders upon approval on April 25, 2022.

He noted that only qualifying shareholders whose names appear on the company’s register of members at the close of business on March 9, 2022, would receive the final dividend.

Agbebaku promised customers, stakeholders that the company is committed to delivering better in the years ahead.

He stated that Nigerian Breweries will 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.