Heineken Brouwerijen B.V, a substantial shareholder in the Nigerian Breweries Plc, has elected to receive its final dividend for the period ended 31st of December 2020, in form of additional 40.56 million shares of the latter.

This is according to an official notice signed by the company’s secretary, Uaboi Agbebaku and made available on the website of the Nigerian Exchange Group Limited (NGX).

Recall that in April this year, the Nigerian Breweries Plc announced the ‘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.

The Scrip Dividend Election Scheme permits qualified shareholders to increase their stake in the company by acquiring new ordinary shares without paying transaction fees.

In light of the above, Heineken Brouwerijen B.V elected to receive 40,555,281 units of Nigerian Breweries Shares at a reference share price of N47.75 per unit. The reference share price was calculated using the 10-day average closing share price of the company’s traded shares starting on the 11th of March, 2021.

What you should know:

  • Nigerian Breweries Plc had earlier reported a profit after tax of N7.53 billion in FY 2020, indicating a decline of about 54.3% when compared with the amount declared in similar period of 2019. In line with the decreased earnings, the proposed final dividend of the company declined from N1.51 as at FY 2019 to 69 kobo in FY 2020.
  • Heineken Brouwerijen B.V holds the highest stake in the Nigerian Breweries Plc. As at 31st of December 2020, the former holds about 37.94% of the latter’s issued and fully paid-up shares.
  • Additionally, it is imperative to note that the recent action will help Heineken Brouwerijen B.V tighten its grip on the Nigerian Breweries by an additional 1.34%.
YOU MAY ALSO LIKE:   Breaking: Again Nigeria Immigration Postpones Application For New Passports Sets New Date

 

The Publisher Nigeria earlier learnt that Nigerian Breweries Plc is set to pay Heineken BV a mega dividend of about N2.9 billion.

LEAVE A REPLY

Please enter your comment!
Please enter your name here