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Guinness seeks approval for N4.82bn dividend

By on November 25, 2015

Guinness Nigeria Plc will on Thursday seek the approval of its shareholders to pay N4.82bn as dividend for the financial year ended June 30, 2015.

The company will seek approval to pay the dividend, which translates into N3.20 per share at its Annual General Meeting, which is scheduled to take place in Abuja.

The Managing Director of Guinness Nigeria Plc, Mr. Peter Ndegwa, said this in Lagos on Monday at a news briefing ahead of the yearly meeting.

If approved, the divided will be paid on Friday.

Ndegwa also said the company remained committed to meeting the expectations of its customers and shareholders.

He said, “Our long-term sustainability is dependent on the consistent provision of quality products that do not only meet customers’ expectations but also create impressive returns to all stakeholders, be they shareholders, employees, trade partners, and suppliers. We are resolutely committed to these goals.”

According to him, the future was bright for the company and its stakeholders as it has been position for growth on the back quality, innovation and technology.

He, however, said the operating environment was challenging as a result of declining oil prices, tighter monetary policy measures, inflation, and pre-election slowdown in economic activities.

Despite the challenges, he expressed satisfaction with the performance of the company for the year ended June 30, 2015.

He said, “During the year, we continued to invest significantly behind our brands and our route to consumer expansion.

“The overall results reflect strong volume growth on the back of year-on-year impressive performance of its innovation and value brands.”

He also said the company was committed to improving the per centage of the local raw materials used in its production.

He said, “In service of our focus to drive out cost in order to invest in growth, we have increased the proportion of our locally sourced raw materials from 27 per cent to 43 per cent and our intent is to continue to increase our LRM by empowering local suppliers – including farmers, SMEs supplying other inputs that can be locally sourced and other manufacturers or suppliers of other items by giving them secure contracts that can help them attract funding.”

Also, the Corporate Relations Director, Guinness Nigeria, Sesan Sobowale, said, “We take our responsibility to deliver quality products seriously. The meticulous and painstaking work, including rigorous quality assurance that precedes the final production of all our products, has a singular objective: to ensure that our consumers drink products that are healthy and comparable with similar products made by a Diageo facility anywhere else in the world.”
[Punch]