BY PETER EGWUATU

Shareholders of Nigerian Breweries, NB Plc are expected to approve N27.7 billion dividend that would be proposed by the Board of Directors of the company at the forth coming 69th Annual General Meeting, AGM of the company. The Managing Director/CEO, Nigerian Breweries Plc, Mr. Nicolaas Vervelde at a pre AGM Press briefing in Lagos disclosed that the Board of Directors of the company would propose N27 billion dividend ( (translating to N3.50 per share ) to the shareholder at the company’s 69th AGM that would hold next week Wednesday in Lagos.

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According to him “ Having earlier paid an interim dividend of approximately N9.5 billion that is N1.25 per share which was declared in October 2014, the total dividend will now be N37.2 billion, representing N4.75 per share.”

Speaking, Vervelde explained that the operating environment witnessed in 2014 was very challenging as the country witnessed insurgency in the North East, lower revenue arising from drop in oil revenue and devaluation of naira.

All these factors and more affected the activities of our customers as the purchasing power of the people dropped which affected our operations. However, our cost leadership agenda enabled us to become more efficient in all area of our operations Also, our 2015 innovation agenda has kicked off with Ace Roots .

While explaining the company’s merged position with Consolidated Breweries Plc, he said “During the year under review, we commenced and concluded the merger process resulting in our enlarged company. At the end of 2014 and arising from the business combination, we had eleven brewery locations as well as nineteen products in our portfolio of brands. We are also the second most capitalised company on the Nigerian Stock Exchange, NSE. Our enlarged company executed the biggest innovation agenda ever in one year.”

On the financial position of the company, he said “ Revenue declined by 0.8 per cent for the 2014 financial year from N266.8 billion in 2013 to N266.4 billion.; Revenue resulting from operating activities declined by 3.3 per cent to N66.861 billion from N69.2 billion, while net profit dropped by 1.3 per cent to N42.5 billion from N43.1 billion in 2013.

Looking at the future, he said “We are confident about the future and we will be able to return good results even in the face of the expected challenging operating environment in 2015.”