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Nigerian Breweries to pay N3.50 final dividend

By on February 14, 2015

Nigerian Breweries Plc on Thursday declared a final dividend of N3.50 kobo per share for the year ended December 31, 2014. According to the results made available by the Nigerian Stock Exchange (NSE),  the leading brewing firm ended the year with a revenue of N266.37 billion, down marginally by 0.8 per cent from N268.6 billion posted in 2013.

Cost of sales fell from N132.13 billion to N130.8 billion, while distribution and other administrative expenses rose from N69.38billion to N70 billion. Other income reduced y 17 per cent from N2.1 billion to N1.7 billion. Similarly finance charges fell by 22 per cent from N6.9 billion to N5.4 billion.
Profit before tax fell marginally to N61.46 billion, as against N62.2 billion in 2013, while profit after tax  fell from N43.1 billion toN42.52 billion. Earnings per share declined  from 570 kobo to 562 kobo.

Consequently, the directors recommended a  final dividend N3.50 kobo, which translated into a pay ratio of  84.52 per cent and dividend yield of 3.68 per cent.
Meanwhile, the NSE All-Share Index  dipped by 2.73 per cent to extend the losses for the sixth day. The decline brought the ASI close to two-year low at 27,935.77. Year to date decline has hit  while YTD 19.4 per cent.
However,    trading activities measured by volume and value traded were mixed as volume advanced by 21.2 per cent while value waned by 26.6 per cent  to 411.5 million shares and N4.5 billion respectively.

On sectoral performance basis,  the Industrial Goods Index led losses with 4.2 per cent. Similarly, the Banking Index shed 2.5 per cent, while  on  the Consumer Goods, Insurance and Oil & Gas indices shed 2.30.8 per cent  and 0.6 per cent piece.

 

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