By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-Brewing Giant, Guinness Nigeria Plc Monday reported an 18.2 percent (18.2%) drop in its Profit After Tax (PAT) for the Financial Year Ended (FYE) June 30 2012.
From the Audited Year End 2012 Result released to the Nigerian Stock Exchange (NSE) in Lagos Nigeria and made available to www.investadvocateng.com, to record the 18.2% decline, the Brewing Company’s PAT in the review period was N17.927 billion in year 2011 compared to N14671 billion in year 2012.
Similarly, Profit Before Tax (PBT) also declined from N26.176 billion in year 2011 compared to N21.074 billion in the review period of year 2012; indicating a decline of 19.5%.
However, Turnover of Guinness Nigeria increased slightly by 2.1%; as the Company recorded N126.288 billion in the Audited Year End of 2012 compared to N123.663 reported in year 2011 end.
To calm the nerves of investors following this Result, the Company in its Corporate Actions to the Nigeria’s Exchange announced it will reward shareholders with N8.00 per share dividend payout or a one bonus share for every 33 they hold.
The N8.00 dividend payout offered to shareholders of the Company is 20% decrease compared to N10.00 paid in 2011 Audited Year End.
Also in its Corporate Actions to the NSE, Guinness Nigeria said Qualification Date for those to benefit from the dividend reward is October 05 2012 and Closure Date of Shareholders whose names appear on the Company’s Record is October 08 2012.
Annual General Meeting (AGM) has been scheduled for November 02 2012 at Transcorp Hilton in Abuja and payment of the N8.00 dividend will be on the same November 02 2012.
“Please note that shareholders entitled to receive the cash dividend of N8.00 per share have the option to elect to receive a scrip issue of 1 for every 33 shares held as at 5th October 2012, in place of the dividend†the Guinness Nigeria said.
