Final Dividend: Nigerian Breweries Announced 69 Kobo for 2020

Nigerian Breweries Plc has declared 69 kobo per ordinary share of 50 kobo each for the period ended 31, December 2020.

In a statement filed through the Nigerian Stock Exchange (NSE), it said the payment is subject to the deduction of applicable withholding tax and approval at the Annual General Meeting scheduled for 22, April 2021.

The firm said the amount will be paid to shareholders whose names appear in the Register of Members as at the close of business on the 10th of March, 2021.

Register of members will be closed from 11th of Match 2021 to 17th of March 2021 (both dates inclusive).

Therefore, 10th of March, 2021 is the qualification date.

It added that the payment date will be “On 23rd of April, 2021, dividends will be paid electronically to shareholders (“Qualifying Shareholders”) whose names appear on the Register of Members as at 10th of March, 2021, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.”

On election for scrip dividend instead of cash dividend, it said “The Directors are also recommending to Shareholders for their approval at the forthcoming AGM, a right of election for Qualifying Shareholders to receive new ordinary shares in the Company instead of the final dividend in cash. The election is required to be made on or before the 10th of April, 2021.”

“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 ten-day trading average of the Company’s share price on the floor of The Nigerian Stock Exchange, starting on the 11th of March, 2021.”

Nigerian Breweries, therefore, advised shareholders who are yet to complete the e-dividend registration to download the Registrar’s E-Dividend mandate Activation Form, which is available at First Registrar, complete same and submit to the Registrar of their respective Banks.