Two substantial shareholders of Nigeria Breweries Plc, Distilled Trading International B.V and Heineken Brouwerijen B.V, have elected to receive 19.45 million shares as scrip dividend for the period ended 31st of December, 2020.
According to two separate disclosures signed by the company’s secretary, Uaboi Agbebaku and made available on the website of the Nigerian Exchange Group Limited (NGX).
According to the disclosure, Distilled Trading International B.V elected to receive 16,541,036 units of Nigerian Breweries shares as scrip dividend, at a reference share price of N47.75, totalling N789, 834,469. On the other hand, Heineken B.V also elected to receive a further 2,904,397 units of Nigerian Breweries shares as scrip dividend for the aforementioned period, at a reference share price of N47.75, totalling N138,684,956.75.
Cumulatively, both firms elected to receive a total of 19,445,433 units of Nigerian Breweries shares at a reference price of N47.75 per share, totalling N928, 529,425.75.
Recall that Nigerian Breweries Plc reported a profit after tax of N7.53 billion in FY 2020, and consequently declared a final dividend of 69 kobo for the aforementioned period. The final dividend dipped by about 54.3% when compared to what was declared in similar period in 2019 (N1.51: FY 2019). The decline was basically due to a slump in the profit after tax of the company, which contracted by a similar percentage.
What you should know:
- Last week, Heineken B.V announced that it elected to receive 40.56million units of Nigerian Breweries shares as scrip dividend. With the addition of the latest scrip dividend, Heineken B.V has so far voted to receive a total of 43.46million units of the latter’s shares as a scrip dividend.
- Recall that Nigerian Breweries Plc had earlier announced a ‘Scrip Dividend Election Scheme’, an option that gives qualified shareholders the opportunity to choose to receive their final dividends in the form of new ordinary shares of the company instead of cash.
- Nigerian Breweries Plc closed trading today 12th of July, 2021 with a share price of N60.