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Guinness Nigeria to Pay Shareholders N1.80k Dividend Oct 25

By Dipo Olowookere

The board of Guinness Nigeria Plc has proposed the payment of N1.80k per share dividend to shareholders of the brewery giant.

Business Post reports that the proposed cash dividend is for the 2018 financial year, which ended June 30, 2018.

A notice issued by the company with its headquarters in Lagos disclosed that the reward would paid to shareholders on Thursday, October 25, 2018.

However, this would be subjected to their (shareholders) approval at the company’s Annual General Meeting (AGM) slated for Wednesday, October 24, 2018, at the Transcorp Hilton Hotel, Abuja at 11am.

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Guinness Nigeria disclosed that the dividend would be paid to shareholders whose names appear in the Register of Members as at the close of business on September 21, 2018.

It further said the Register of Sharehoders would be closed from September 24 to 28, 2018.

The firm advised shareholder who are yet to complete the e-dividend registration to do so in order to get their cash dividend paid to their bank accounts electronically.

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On Wednesday, Guinness Nigeria Plc released its financial results for the 2018 fiscal year ended June 30, 2018.

According to the company, its revenue increased by 14 percent from N125.92 billion in June 2017 to N142.98 billion, showing an improved operating margin, as benefits from the company’s productivity program more than offset sustained cost pressures.

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An analysis of the financial scorecard by Business Post also revealed that the marketing spend increased 18 percent demonstrating sustained investment behind Guinness Nigeria’s brands, while the operating profit rose by 31 percent to N13.4 billion.

It was observed that there was a 54 percent reduction in finance costs following the rights issue, while the profit after tax was up 249 percent in the period under review.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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