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Consolidated Breweries’ shareholders approve N917m dividend

By on May 18, 2014

Shareholders of Consolidated Breweries Plc  Friday approved the  N917.732 million recommended by the board for year ended December 31, 2013. The dividend translated into N1.85 per share for the  shareholders whose names on  the register of  the company as at April 17, 2014.

Speaking at the 34th Annual General Meeting of Consolidated Breweries, the chairman of the company, Prof. Oyin Odutola-Olurin, said the company achieved several milestones in recent years.

The achievements, according to her, include the expansion of the company’s production capacity, the successful merger of Benue Breweries Limited and DIL/Maltex (Nigeria) Plc,  as well as the introduction of a new bottle for “33” and a variant of Malt drink, the Hi-Malt Choco Twist.

She disclosed that the  company plan to use gas to power some of the equipment at the Ijebu Ode Brewery,Ogun State  in an effort to drive down costs.

Also speaking, the Managing Director of the company, Mr Boudewijn Haarsma  said Heineken’s long-term sustainability strategy has been integrated by Consolidated Breweries.

“We aim to create genuine shared value for all our stakeholders as sustainability is part of how we manage our business”, Haarsma  said.

Shareholders lauded the management’s efforts at consistent payment of dividends over the years, urging them to sustain impressive results.

They also hailed the decision by the company to discuss merger arrangement with Nigeria Breweries Plc, saying this would result in a bigger and better company.

But the shareholders called for fair treatment in the merger process.
Odutola-Olurin, however, assured them of that the management would do everything possible to protect their interests.

Meanwhile, the stock market fell for the first time this week as the Nigerian Stock Exchange (NSE) All-Share Index shed 0.46 per cent to close at 38,957.47 yesterday.  Similarly, the market capitalisation shed N60 billion, falling from N12.892 trillion to N12.832 trillion.

Skye Bank Plc led the price losers with 7.5 per cent, followed by Skye Shelter Fund with five per cent decline. Mobil Oil Nigeria shed 3.8 per cent.

 

 

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