By InvestAdvocate
Lagos (INVESTADVOCATE)-Beer producer, Nigerian Breweries Plc on Wednesday said it has proposed the third largest ever paid dividend in the history of the company to its shareholders for the period ended December 31, 2017, management of the company disclosed to journalists at its 2018 Pre-AGM Media briefing in Lagos, Nigeria.
The brewer in its corporate action to the NSE offered shareholders of the company a final dividend of N3.13 per share for the 2017 operating year which includes the N1.00 per share interim dividend paid to shareholders in November 2017; amounting to N4.13 kobo per share compared to N2.58 per share paid in 2016 end.
The N4.13 kobo per share dividend offered to investors which the company has termed the third largest ever paid dividend in the history of Nigerian Breweries amounts to N33 billion for the 2017 financial year compared to N20.5 billion paid a year earlier; which was part of the company’s filing to the Nigerian Stock Exchange (NSE).
Analysts at InvestmentOne had earlier said the proposed dividend is around 21 percent higher than the final payout of N2.58 in 2016 and implies a yield of 2.4 percent as at the closing price of February 15, 2018 on the floor of the Nigerian bourse. “Having paid out an interim dividend of N1.00 per share previously, the total dividend implies a dividend payout ratio of 99.1 percent,” InvestmentOne added.
Nigerian Breweries said its closure date is March 7 to March 13, 2018; while qualification date is March 6, 2018 and payment will be made on April 23, 2018 to all shareholders whose names appear on the company’s register of members at the close of business on March 6, 2018.
Shares of the brewer at the closing of the day’s trading on the domestic bourse appreciated 0.08 percent percent to N129.30 from N129.20 traded the last session; gaining 10 kobo per share.
Though as at the time of filing in this report, we are yet to determine the years in which the brewing giant paid its first and second largest ever dividend in the history of the company.
