Nigerian Breweries investors will have cause to smile this year as they look forward to a huge pay day post their 2014 AGM tomorrow.
The company’s AGM will hold tomorrow on May 14, 2014 and indications are that the company made N264bn in revenue as against N268bn recorded last year but where revenue might have fallen, investors would not feel the pinch because the board has recommended a dividend pay-out that is 50% higher than the 2013 figure which means that investors would go home with about N6.75k as against the N4.50 which they earned last year.
Nigerian breweries is also finalising a merger deal that would see it leverage advantages of economies of scale.
The merger, which is already in advanced discussions, will see the pooling together of resources between Heineken subsidiaries, Nigerian Breweries (NB) Plc and Consolidated Breweries Plc. A formal announcement will be made once the company receives approval for the deal following the filing of pre-merger notifications with the Nigerian Securities and Exchange Commission (SEC) on behalf of both Nigerian Breweries Plc and Consolidated Breweries Plc.