By Chinwendu Obienyi
Shareholders of Nigerian Breweries (NB) Plc recently approved the dividend payout of N7.52 billion for the 2020 financial year. The approval was given at the 75thAnnual General Meeting (AGM) of the company held recently in Lagos , even as the company assured the shareholders of its commitment to continually improve the return on their investments.
Speaking during the AGM, shareholders stated that the 2020 results contained in the audited report and the 100 per cent dividend payout is a strong reflection of the company’s stability as well as its resilience in the face of the global pandemic and operating challenges in the economy.
The National Coordinator, Progressive Association of Nigeria (PSAN), Boniface Okezie, who spoke at the meeting hailed the board and management of the company for helping to maintain a strong and healthy balance sheet amid recession and inflation that had affected businesses and the Nigerian economy in general.
According to Okezie, the fact that the company remains competitive despite the huge impact of the COVID-19 pandemic on businesses demonstrates the uniqueness of the cost-saving measures deployed.
“Despite the impact of the recession and COVID-19 pandemic, the company was still able to maintain stability. This goes to show the quality of leadership at the company. I must confess that the board and management have done well to keep to its promise of paying dividends. We can only hope that they keep up the tempo so that we can receive higher dividends in the next financial year”, he said