By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Beer Makers, Nigerian Breweries Plc Thursday increased its dividend payment by 50 percent as post-tax profit for the period ended December 31 2013 grew by 13.2 percent.

From the audited report of the company released to the Nigerian stock exchange (NSE) and made available to InvestAdvocate in Lagos Nigeria, the beer maker’s proposed to reward shareholders of the company with a N4.50 per share dividend payout for the 2013 year end compared to N3.00 paid in 2012 end.

This amounts to a total dividend of N 34,032 billion been recommended by the board for approval. If approved, the payment of the dividend will be made on Thursday, May 25, 2014, to shareholders whose names appear on the Company’s Register of Members at the close of business on Wednesday, March 05, 2013.

A review of the 2013 audited report of the brewing giant shows that post-tax profit increased from N38.042 billion in the audited period of 2012 to N43.080 billion in the review period of 2013; indicating an increase of 13.2%.

Similarly, pre-tax profit also grew from N55.624 billion in 2012 end to N62.240 billion in the review period of 2013; representing a growth in pre-tax profit of 11.9%.

While turnover increased by 6.3 percent from N252.674 billion in the audited period of 2012 to N268.613 billion in the review period of 2013.