NBL Plc posts N437.196bn revenue in 2021, to pay final dividend of N1.20 per share

Nigerian Breweries Plc has declared a revenue of ₦437.196 billion in its audited financial statement for the financial year 2021. The growth in revenue represents a 29.7 per cent increase over the ₦337.006 billion recorded in 2020. A breakdown of the audited results shows that the Company’s profit for the period grew by 71.8 per cent, from N7.525 billion in 2020 to N12.927 billion in 2021. A statement signed by the Company Secretary/Legal Director, Uaboi Agbebaku, said that the Board of Directors commended the management for placing the Company on the path of recovery from the debilitating impact of the COVID-19 pandemic and other challenges faced during the year.

The Board the statement said would recommend to shareholders at the forthcoming Annual General Meeting (AGM) the declaration of a total dividend of ₦12.921billion at 50k per share, representing a 100 dividend payout. NBL had in October 2021, paid an interim dividend of ₦3.230 billion which translated to 40k per share. The final proposed dividend of ₦9.69 billion at ₦1.20k per share will be payable to shareholders upon approval on 25 April 2022. The statement further said that only qualifying shareholders whose names appear on the Company’s Register of Members at the close of business on 9 March 2022 will be paid the final dividend. The statement noted that the Board would also recommend shareholders for their approval at the forthcoming AGM, a right of election for Qualifying Shareholders to receive new ordinary shares in the Company instead of the final dividend in cash.

Agbebaku revealed that the Company remains committed to delivering improved performance in the years ahead. It would also continue to deploy cost-efficient measures to keep its balance sheet strong and healthy while ensuring that the safety and welfare of its employees, customers, and partners remain well protected.