For the fiscal year that ends on December 31, 2022, the Board of Directors of Nigerian Breweries Plc has declared a total dividend for its shareholders of N13.87 billion.
This was stated in a corporate action obtained by Nairametrics and made available on the NGX website.
The dividend, which must be approved by shareholders at the upcoming Annual General Meeting (AGM) of the company, is equivalent to 143 kobo per ordinary share with a par value of 50 kobo.
For the entire year 2022, net revenue increased by 26% to N550.838 billion in 2022 from N437.285 billion in 2021, driven by brand mix improvements and strong pricing.
From N276.872 billion in 2021 to N33.7.310 billion in 2022, the cost of sales increased by 22%, while the profit after taxes increased by 4%, to N13.187 billion from N12.672 billion.
According to the company’s statement, the total market shrank by a high single digit amount due to pressure on consumer disposable income as well as inflation and naira depreciation.