By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Guinness Nigeria Plc Monday offered investors of the company a -12.5% lower dividend in its 2013 audited year.

The firm in its corporate action to the Nigerian Stock Exchange (NSE) proposed a N7.00 (700 Kobo) dividend payout to shareholders compared to N8.00 (800 Kobo) paid in year 2012 end; indicating a drop in dividend payment by 12.5%.

This is a further decline in dividend payment to investors of the company as the brewery giant paid N10.00 in year 2011 end; showing a decline in dividend payment of -30% to date.

A review of the company’s audited report for the review period ended June 30 2013, showed the company recorded a profit after tax (PAT) of N11.864 billion compared to N14.215 billion recorded in year 2012; indicating a dip in PAT of -16.5%.

Similarly, profit before tax (PBT) in 2013 end was N17.009 billion compared to N20.383 billion in the same period of 2012; representing a drop in PBT of -16.6%.

However, gross earnings slightly increased by 4.1% in the review period as Guinness Nigeria recorded N131.414 billion in year 2013 end compared to N126.288 billion reported in 2012 end.