By Peter Egwuatu

Shareholders of Nigerian Breweries, NB Plc, are set to receive an interim dividend as the Company’s Board of Directors have recommended N1.9 billion, representing 25 kobo dividend per share.

According to the unaudited and provisional results for the third quarter ended  September 2020, Q3’20 filed at the Nigerian Stock Exchange, NSE,  the Company made a Profit After Tax of N7.05 billion during the period as against N12.3 billion in Q3’19.

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A breakdown analysis of the unaudited results show a 0.7 per cent decline in net revenue to N234 billion from N235.7 billion in September 2019 .The marginal decline were attributed to factors such as an increase in excise duty, a rise in inflation, an increase in Value Added Tax, VAT to 7.5 percent from 5 percent and most importantly, the impact of the COVID-19 on most businesses across the world.

According to a statement signed by the Company Secretary/Legal Director, Nigerian Breweries Plc, Mr. Uaboi Agbebaku, the Company will continue to focus on efforts to mitigate the impact of the pandemic on its operations, while protecting the health, safety and welfare of employees, customers and partners.

He noted that the interim dividend  would be  payable on Tuesday, December 1, 2020 to all shareholders registered in the books of the company as at Friday, November 20, 2020.