Nigerian Breweries Declares Final Dividend of N5.5 Billion

Set church, houses ablaze

Nigerian Breweries Plc has declared a final dividend of N5.518 billion for the year ended December 31, 2020.

The amount translated to 69 kobo per share. Shareholders of one of the leading brewing firms would be receiving a total of N7.527 billion dividend (94 kobo per share), having received an interim dividend of N1.999 billion( 25 kobo per share) last year. However, the final dividend is lower than the N1.51 received the previous year.

Besides, the directors of Nigerian Breweries Plc are also recommending a right of election for to receive new ordinary shares in the company instead of the final dividend in cash. According to the company, 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 Nigerian Stock Exchange, starting on the 11th of March, 2021.

The reduced dividend is due to the decline in bottom-line of the company as shown in the audited 2020 financial results just released. Details of the results showed that Nigerian Breweries Plc recorded a net revenue of N337.046 billion in 2020, up from N323.007 billion in 2019. Cost of sale rose from N191.757 billion to N218.355 billion, while gross profit printed at N118.690 billion compared to N131.251 billion in 2019.

The company was able to bring down marketing and distribution expenses to N70.702 billion in 2020, from N77.695 billion in 2019. Also, administrative expenses reduced marginally from

N19.355 billion to N19.212 billion while net financing cost rose 52 per cent to N18.028 billion from N11.927 billion.

Consequently, profit before tax (PBT) fell by 50.3 per cent from N23.327 billion to N11.577 billion, while profit after tax (PAT) fell from N16.105 billion to N7.368 billion.

The shareholders of the company had last year commended the board and management of the company for being resilient in the face of the challenging operating environment and appreciated the regular dividend payment.

On his part, the Chairman of Nigerian Breweries Plc, Chief Kola Jamodu, had thanked the shareholders for their commendation and assured them that the company remained focused on delivering long term sustainable value in line with its philosophy of ‘Winning with Nigeria.’

Two people have been killed while nine others were abducted by bandits in fresh attacks on Baka village, Igabi Local Government Area of Kaduna state.

However, troops were said to have rescued 14 people, mostly women .

The bandits also attacked Kikwari village, Kajuru Local Government Area, setting a church and two houses ablaze.

The hoodlums who invaded Baka village were said to have operated in groups.

One group was said to have abducted the 14 people rescued by troops, while the other group was said to have escaped with nine victims before the arrival of troops.

The Kaduna State Commissioner for Internal Security and Home Affairs, Mr. Samuel Aruwan, confirmed the incidents in separate statements issued yesterday in Kaduna.

He said the bandits invaded Baka village on Saturday night killing one Sale Musa and his son, Amiru.

The late Musa was said to be a brother to the late Dan’azumi Musa, who was killed alongside his son, on February 13, 2021, when they resisted being abducted by bandits during a similar attack on the community.

“Security agencies have reported that armed bandits on Saturday night invaded Baka village, Igabi local government area. The bandits attacked the family residence of the late Dan’azumi Musa - himself killed alongside his son, by bandits - a week earlier,” Aruwan said.

He said, “in the latest attack, a brother to the deceased, one Sale Musa and his son Amiru Sale Musa, were shot dead”.

According to him, “the bandits, operating in groups, also abducted a number of persons, mostly women and children.

“Troops based in the Sabon Birni general area were mobilised to the location. They engaged the bandits and rescued some captives from one of the bandit groups, while another group had earlier escaped with another set of hostages.”

He listed 14 people rescued by troops to include: Aisha Isah, Halima Isah, Hannatu Umar, Hassana Umar, Hadiza Isah, Fadilah and Bashir.

He said others include: Zaharau Isah, Maryam Bashir Mikah Zakari, Yunusa Isah Karima Umar, Kadija Umar

Rukaiyah Isah, Bashiru.

The commissioner said two

Sumaiya infants were among the nine people in captivity.

He said the victims include: Saudatu Garba, Laraba Idris

Auta Mansur, Ibrahim Danlami; Hauwa Sale, Fatima Idris

Safara Sale, Shafaatu Idris (infant) and Fiddausi Mansur (infant).

The commissioner said, in the attack on Kirkwari village, Kajuru Local Government Area, the bandits razed the Holy Family Catholic Church in the community and two houses.

The United States of America; former Vice President Atiku Abubakar; Senate President, Dr. Ahmad Lawan; Governor of Lagos State, Mr. Babajide SanwoOlu; former Senate President, Dr. Bukola Saraki and the House of Representatives’ Committee on the Air Force, have commiserated with families of the victims of yesterday’s Beechcraft KingAir B350i plane crash.

This is coming as eyewitness’ accounts said that the pilot struggled to avoid residential areas before it nosedived.

In a tweet yesterday, Atiku said: “I have just learnt of the crash of a military aircraft near Abuja. My thoughts and prayers are with the families of those onboard the ill-fated flight.”

Sanwo-Olu has also commiserated with families, friends and associates of the victims of the unfortunate crash.

Sanwo-Olu expressed his condolence in a message signed by his Chief Press Secretary, Mr. Gboyega Akosile, yesterday.

He prayed that God would grant the deceased eternal rest and grant the families they left behind the fortitude to bear the irreplaceable losses.

In a tweet yesterday, the US Mission in Nigeria commiserated with the NAF, the families of the officers and all Nigerians on the tragedy.

“The United States expresses sincere condolences to the @ NigAirForce, family members and all Nigerians for the loss of life in today’s aircraft crash,” it tweeted.

Saraki, on his official twitter handle @bukolasaraki, said: “At this time, my prayers are with the Nigerian Air Force and the families and friends of the military personnel involved in today’s Beechcraft KingAir B350i plane crash.

“I pray for strength for the families.”

Lawan has also expressed shock and sadness over the tragic news of the crash of the military aircraft.

Lawan, in a statement by his Media Adviser, Mr. Ola Awoniyi, sent his condolences to the families of those killed in the accident and prayed that Allah would comfort them in this time of grief.

The House of Representatives Committee on Air force has also commiserated with the Nigerian Air force, families of the victims involved in the crash.

In statement issued yesterday, the Chairman of the Committee, Hon. Shehu Koko while sending his condolence message on behalf of his committee said he witnessed the incident along with the Chief of Air staff and promised investigation will begin in earnest to determine the remote cause.

While mourning with families of the deceased, Koko urged Nigerians to remain calm and await the outcome of the investigation.

Meanwhile, eyewitness accounts said the pilot of the ill-fated aircraft struggled to avoid residential areas before it nosedived.