Nigerian Breweries To Pay N4.8bn Interim Dividend, Records N14.8bn Profit In Q3

An interim dividend of N4,798,141,231 has been approved by the Board of Directors of Nigerian Breweries Plc.

This represents 60 (sixty) kobo per ordinary share of 50 kobo in the share capital of the company, for the period ended September 30, 2018.

The interim dividend, which is subject to the deduction of withholding tax, is payable on Monday, 10th December, 2018 to all shareholders registered in the books of the company at close of business on Thursday, 22nd November, 2018.

ALSO READ  BREAKING: FG Sacks Striking Doctors

The company recorded a Profit After Tax of N14.7 billion for the nine months ended September 30, 2018, while results from Operating Activities stood at N27.7 billion over the same period.

An analysis of the unaudited and provisional results shows that Profit after Tax dipped by 38.4percent from the N23.9 billion recorded over the same period in the preceding year, while results from Operating Activities dropped by 34.4 percent from the N42.3 billion recorded in the same period last year.

ALSO READ  Items Every Woman Should Pack When Travelling

Profit before Tax also dipped by 34.7 percent from N34.4 billion recorded in 2017 to N22.4 billion in the period under review.

Commenting on the results, the Company Secretary/Legal Adviser, Mr Uaboi Agbebaku said “the new excise duty regime which came into effect in June and the consequent effect of it, adversely impacted the Third Quarter results”.

ALSO READ  Nigerian Breweries Records N18b Profit In Six Months

He added that the company also undertook a rightsizing exercise which resulted in a substantial one-off cost during the quarter.

Share This Post

Leave a Reply

%d bloggers like this: