No dividends for shareholders

SHArEHolDErS of Namibia Breweries limited (NBl) may not receive any dividends this year, as the company’s halt on dividends is expected to clear either by the end of the year or early next year. The halt was imposed as part of the company’s deal to sell 51% shareholding to Heineken NV at the end of last year. This deal is set to have Heineken dominating the southern Africa alcohol market, as it is also buying up Distell Group Holdings limited. Distell and NBl are the heavyweights in the southern Africa alcohol industry. NBl’s stake that is offered for sale is valued at about N$3,5 billion (US$237,5 million), but the actual buyout amount is still undisclosed. At the 2022 interim financial results presentation last week, NBl managing director Marco Wenk said the deal was still under approval and the entire process will only be completed by the end of the year or early 2023. — The Namibian.