Guinness Shareholders Get N4.719b Dividend
 22nd NOV 2006

Guinness Nigeria Plc has approved the sum of N4.719 billion representing 400 kobo per share as dividends for its shareholders. The company has over 70,000 shareholders.

Chairman of the company, Chief Ralph Alabi assured the shareholders that they would always get maximum returns on their investments.

At the 56th Annual General Meeting of the Nigeria's leading alcoholic beverages company held in Abuja recently, the shareholders unanimously endorsed the N4.719 billion recommended by the directors which translated to 400 kobo per share.

They also approved a bonus issue of 294,985,104 shares of 50 kobo each to be allotted in the proportion of one new ordinary share for every four ordinary shares held by each shareholder.

Giving insight into the company's future plans, Alabi said with stability in the polity and the current economic reforms of the Federal Government, the improvements being witnessed in the economy would continue.

"We shall continue to be proactive in our management of the company by investing wisely in those projects that will bring the maximum returns to our shareholders, supporting our brands and launching even more exciting and world-class brands of the highest quality and ensuring that we add value to our human capital."

For this to happen at the macro-level, he said the government must sustain its current partnership with the private sector as the engine of economic growth.

He said the company recognises the employees as the pillar on which both present performance and aspirations for the future rest, hence the focus on partnerships will be reinforced thereby releasing people's potentials and driving change to deliver on the company's strategic goals.

By so doing, the company will be creating a brighter future for the shareholders, the company and employees, he added.

"With an array of world class innovations in human resources policies, processes, and practices and improved business partnering, Guinness is well on its way to becoming Nigeria's Most Celebrated Employer."

His views were echoed by the Managing Director of the company, Mr. Keith Taylor who said, "the company is pleased to present a good set of results for the 2005 financial year. Despite the continuing difficult trading conditions, we have reported a strong growth in turnover and trading profit. The trading profit benefited from the non-recurrence of the N3,638 million exceptional items recorded in the prior year.

Highlights of the company's financial results which Alabi will unveil at the AGM include a turnover of N53.7 billion which represents an increase of 14.5 per cent over the prior year results and a trading profit of N12.22 billion, against last year's figure of N8.1 billion. Profit after taxation also increased by 53.1 per cent to N7.44 billion.

Back to Top
Post Your Feedback