Nigerian Breweries Plc (NGX: NB) has announced a bonus share issue to its shareholders for the 10 months ended 31st October, 2022.
This was contained in a corporate action notification published on the Nigerian Exchange. The Board of Directors made the decision at a special meeting of the Board duly convened and held on the 15th of November, 2022.
The proposed bonus share is 1 (one) new share for every 4 (four) shares held at close of business on Tuesday, 6th December, 2022.
The company also said that it will hold a general meeting on Thursday, 8th December, 2022 to recommend the bonus share issue to shareholders.
The bonus shares with a value of N1.03 billion, will be issued from the Company’s Share Premium Account, which based on the 2021 audited accounts had a balance of N77.5 billion and N84 billion as at 31st October, 2022, according to Nigerian Breweries Plc.
Investogist recalls that Nigerian Breweries Plc announced a interim dividend of 40 kobo per ordinary share of 50 kobo each, subject to the deduction of the appropriate withholding tax for the nine months period ended September 30, 2022.
The qualification date for the interim dividend is 23rd November, 2022.
Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Activation Form.
In the first nine months of this year, NB grew its revenue by 27.2% to N389.45 billion from N309.22 billion recorded in September 2021. Similarly, the profit after tax rose by 79.6% to N14.76 billion in 2022 from N8.69 billion reported in September2021.
On Monday, the share price closed 9.94% up at N45.35 per share on the floor of the Nigerian Exchange. Despite the rise, it is 41.1% down from its year high of N77.00 per share, attained on May 9, 2022.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.