By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)- Brewer, Nigerian Breweries Plc said on Thursday its dividend payment declined by 22.22 percent to N3.50 from N4.50 paid in 2013 audited year end.

The beer maker in a filing with the Nigerian Stock Exchange (NSE) said total dividend for 2014 is N27.751 billion compared to N34.032 billion paid in 2014.

The company affirmed that closure date is between March 05 and March 11, 2014 and if the dividend is approved, the payment would be made on Thursday, May 14, 2015, after its annual general meeting (AGM) scheduled for Wednesday May 13, 2014.

A review of Nigerian Breweries audited financial statements for the year ended December 31, 2014 shows that post-tax profit inched down with a margin of 1.3 percent to N42.520 billion in 2014 from N43.080 billion in last year.

Similarly, pre-tax profit went down the same margin of 1.3 percent to N61.461 billion in the review period of 2014 from N62.240 billion in 2013 end.

Revenue dropped from N268.6 billion in 2013 to N266.4 billion in the review period of 2014; indicating a slight decline of 0.8 percent.

At the end of today’s trading on the Nigerian bourse, share price of the beer maker lost N2.79 declining 2.12 percent.