Home Business Guinness Nigeria Declares N4.03bn Dividends, Pays 184 kobo Per Share

Guinness Nigeria Declares N4.03bn Dividends, Pays 184 kobo Per Share

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Guinness Nigeria Declares N4.03bn Dividends, Pays 184 kobo Per Share Dividend

Guinness Nigeria Plc, has declared a dividend of N4.03 billion following the approval by the company’s shareholders at the 68th Annual General Meeting of the company which held in Abuja on Wednesday. The dividend declared translates to a payout of 184 kobo gross per share to the shareholders.

The 2018 financial year, showed impressive growth as it recorded a 31% improvement in operating profit from N102 billion to N13.4 billion, Revenue increased by 14% from N125.92 billion in June 2017 to N142.98 billion, while Profit After Tax (PAT) improved significantly by 249% to N6.7bn for the year ended 30th June 2018 compared to N1.9bn reported for the year ended 30th June, 2017,

Addressing shareholders at the 68th AGM, the Chairman of the Board of Directors, Mr. Babatunde Savage said that Guinness Nigeria Plc. has again demonstrated business resilience. He asserted that the company’s performance shows its commitment to grant shareholders returns on their investments.

“The Company’s performance for the year ended 30 June, 2018 shows impressive growth and resilience. Although the challenges in the operating environment are yet to ease, the execution of our strategy is working well as we delivered both top line growth and margin expansion while also increasing investment behind our brands. Looking forward, we will continue to focus on the three strategic pillars of productivity, expansion of our Portfolio, as well as the execution of the commercial footprint initiatives to drive the business forward.”

Speaking further, Savage said that as the economy continues to improve, Guinness Nigeria Plc. is determined to ensure sustained and steady growth in the company’s operations to achieve improved returns on investments.

Savage said, “As a company, we will continue to appreciate the unwavering commitment of all our stakeholders; shareholders, dynamic employees, loyal consumers, dedicated suppliers and other business partners for their unflinching support through these times. We look forward to a better 2019 for our brands and our great company which you are all an important part of.”

On his part the Managing Director/CEO, Baker Magunda, said, “in line with our strategy, Guinness Nigeria remains committed to driving returns on investment to shareholders. We also remain resolute on our commitment to continuously invest in our business to secure a sustainable future for our stakeholders.”

Baker further said that “Guinness Nigeria is a company with strong and diversified portfolio and remains in leading positions in many of the fastest growing categories in the beverage industry. To ensure continued long-term growth, we are investing in key categories and actively managing the portfolio to ensure we stay ahead of consumer trends. Our consumers remain at the heart of everything we do to drive growth, ensuring it benefits both our shareholders and society.”

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