Nigerian Breweries declares N337bn revenue for 2020

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Nigerian Breweries Plc has declared a N337.01 billion for financial year ended December 31, 2020.

represented an increase 4.3 per cent compared N323 billion recorded corresponding period 2019.

The company disclosed this its audited financial statement to newsmen signed by its Legal / Secretary, Mr Uaboi Agbebaku, on Monday, Lagos.
He said that the company posted a profit after N7.52 billion during the review period against N16.1 billion achieved in the comparative period 2019.
Agbebaku said that the would be recommending to the shareholders at the forthcoming Annual General Meeting (AGM) a total dividend of N7.52 billion.
“Recall that the company had earlier in 2020, paid an interim dividend of N1.99 billion which translated to 25k per share.
“The final proposed dividend of N5.52 billion at 69k per share be payable to shareholders upon approval on April 23,” he said.
Agbebaku said that only qualifying shareholders whose names appear on the company’s Register of Members at the close of on March 10 would be paid the final dividend.
“Directors would also be recommending to shareholders for their approval at the forthcoming AGM, a right of election for qualifying shareholders to receive new ordinary shares in the company as against the final dividend in cash,” he added.
According to Agbebaku, the expressed confidence in the company’s position to continue to deliver return on investment to shareholders.
He added that the company remained committed to not only keeping its balance sheet strong but ensuring that the health, and welfare of its employees, customers and partners were protected.
Agbebaku noted that the company made various donations in cash and kind valued at about N531 out of a phased commitment of N600 to the federal and seven state governments Task Forces Relief Funds.