By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE) – Leading Nigerian brewing company, Nigerian Breweries Plc (NB Plc) would have paid out the sum of N210 billion as dividend in the last 13 years to investors if the N34.032 billion recommended by the company’s board of directors (BODs) for its 2013 audited year end is approved by shareholders at the company’s 68th annual general meeting (AGM) holding May 15, 2014.
Records available to InvestAdvocate shows that the NB Plc is one of the companies quoted on the Nigerian stock exchange (NSE) that has consistently paid dividend to its shareholders.
From the company’s 2013 annual report and accounts made available to InvestAdvocate, the brewing giant has declared dividend from year 2000 to 2013; making it a total of 13 years of consistent dividend declaration to investors.
A breakdown of the dividend paid in the review period showed that year 2000 dividend declared in 2001 , Nigerian Breweries offered N4.253 billion, for year 2001 declared in year 2002, the company paid out N7.940 billion, 2002- N4.159 billion, 2003- N3.025 billion, 2004- N8. 94 billion and 2005- N10.89 billion.
Others are year 2006 Nigerian Breweries declared N18.90 billion, 2007- N21.9 billion, 2008- N13.612 billion, 2009- N26.8 billion, 2010- N9.453 billion, 2011- N22.687 billion, 2012- N22.668 billion and the proposed N34.032 billion for 2013; making it a total dividend of N210 billion in the review period.
The Nigerian beer maker had earlier announced an increase in its dividend payment by 50 percent in its 2013 audited year end.
To record the 50% increase in dividend payout to investors of the company, NB Plc proposed a N4.50 per share dividend for the 2013 year compared to N3.00 paid in 2012; which amounts to a total dividend of N 34,032 billion.
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.
At the company’s pre-AGM media briefing held Tuesday in Lagos Nigeria, Nicolaas Vervelde, managing director/chief executive officer (MD/CEO) of NB Plc said the beer maker maintained its leadership position in the market in spite of the challenging operating environment in 2013 as results from the company’s operating activities increased by 7.0%.
‘’Despite the difficult operating environment, we recorded growths in all segments of the market and indeed out-performed the market. We sustained our enviable leadership position in the market,’’ he said.
Vervelde affirmed that the operating environment is expected to remain challenging in 2014; but Nigerian Breweries remain confident that it will continue to maintain its market leadership, as well as take advantage of any growth opportunities that occur.
