By InvestAdvocate
Lagos (INVESTADVOCATE)-Beer producer, Nigerian Breweries Plc on Thursday announced its pretax profit for the period ended December 31, 2015 dipped 11.3 percent to N54.514 billion from N61.508 billion posted a year earlier.
Similarly, profit after tax (PAT) declined 10.5 percent to N38.058 billion from N42.520 billion recorded the same period of 2014.
Revenue grew by 10.3 percent Year-on-Year (y/y) to N293.905 billion from N266.372 billion reported a year ago, the brewer said in a filing with the Nigerian Stock Exchange (NSE).
The Board of the company proposed a final dividend of N3.60 per share to its shareholders compared to N3.50 paid in its 2014 audited year end with a closure of March 2, 2016 and a payment date of May 12, 2016. This dividend payout to investors of the company amount to N28.544 billion.
Nigerian Breweries had earlier paid an interim dividend of N1.20 per share; amounting to N9.514, thus the total dividend recommended for the year amounts to billion N38.059 billion; that is N4.80 per ordinary share of 50 kobo each. The beer maker says Annual General Meeting (AGM) and payment date has been scheduled for May 11 and May 12, 2016 respectively.
Shares of Nigerian Breweries at the close of trading on the local bourse increased 1.02 percent to N98.00 per share from N97.01 per share declared the previous session.
