Economy
Nigerian Breweries Cuts Dividend by 54% as Profit Shrinks 54%
By Dipo Olowookere
Shareholders of Nigerian Breweries Plc, one of the main brewery firms in the country, will have to make do with the 69 kobo being proposed by the board of directors as the final dividend per share for the year 2020.
When compared with the final dividend paid for the 2019 financial year, N1.51 per unit, it is 54.3 per cent lower and the reason for this huge cut can be attributed to the harsh economic situation in the country, compounded by COVID-19, which has significantly reduced the purchasing power of Nigerians.
The disposable income of consumers in the country is very lean, making it difficult for players in the beer industry to generate high turnover and profit like they used to in the past.
In a notice on the Nigerian Stock Exchange (NSE) over the weekend, the brewery giant said the final dividend would be paid to shareholders whose names appear in the register of members as at the close of business on March 10, 2021.
However, the payment is still subject to the deduction of the appropriate withholding tax and approval of the shareholders at the Annual General Meeting (AGM) fixed for April 22, 2021.
If approved, payment would be made the next day. It was also stressed that shareholders may decide to “receive new ordinary shares in the company instead of the final dividend in cash.”
Nigerian Breweries stated that “the election is required to be made on or before April 10, 2021. The reference share price for the purpose of determining the number of shares due to qualifying shareholders who elect for the share option will be a 10-day trading average of the company’s share price on the floor of the NSE, starting on March 11, 2021.”
In the 2020 fiscal year, Nigerian Breweries had it rough as its profit before tax depreciated by 50.4 per cent to N11.6 billion from N23.4 billion in the corresponding period of 2019, while the profit after tax decreased by 54.0 per cent to N7.4 billion from N16.1 billion a year earlier.
A look at the top line of the results by Business Post showed that there was a slight improvement in the revenue, N337.1 billion versus the previous year’s N323.0 billion, while the gross profit decline to N118.7 billion from N131.3 billion.
Also, the other income dropped to N828.1 million from N1.0 billion, while marketing and distribution expenses reduced to N70.7 billion from N77.7 billion, with the administrative expenses slashed to N19.0 billion from N19.4 billion.
Consequently, the operating profit decreased to N29.8 billion from N35.2 billion as the finance income reduced to N246.3 million from N260.7 million, while the finance costs increased to N18.4 billion from N12.1 billion, leaving the net finance cost at N18.0 billion as against N11.9 billion in the same period of 2019.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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