News Column

Consolidated Breweries Declares N1.85 Dividend

May 21, 2014

Shareholders of consolidated Breweries Plc have unanimously approved and applauded management's recommendation of a total dividend of N917.73 million.

This represents N1.85 per 50k share to those who are on the register of members as of April 17, 2014.

Chairman of the company, Prof. Oyin Odutola-Olurin, who read the recommendation in Lagos at the company's 34th Annual General Meeting, AGM, also disclosed that the company's revenue increased from N33.5 billion to N33.9 billion.

She described 2013 as a truly eventful year, saying the company achieved several milestones in its journey towards greatness.

Such achievements, according to her, include the expansion of the company's production capacity, the successful merger of Benue Breweries Limited and DIL/Maltex (Nigeria) Plc, the introduction of a new ERP system which improved the controls in business, as well as the introduction of a new bottle for "33" and a variant of Malt drink, the Hi-Malt Choco Twist.

She also hinted of the plan to use gas to power some of the equipment at the Ijebu Ode Brewery in an effort to drive down costs.

Managing Director, Mr. Boudewijn Haarsma, noted that brewing a better future, Heineken's long-term sustainability strategy has been integrated by Consolidated Breweries.

"We aim to create genuine shared value for all our stakeholders as sustainability is part of how we manage our business", he said. Shareholders lauded the management's efforts at consistent payment of dividend over the years, urging them not to rest on their oars.

They also applauded decision by the company to discuss merger arrangement with the Nigeria Breweries Plc, saying this would result in a bigger and better company.

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Source: AllAfrica

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