Ahead of its 76thAnnual General Meeting and following the impressive results released for the financial year ended December 31st, 2021, Nigerian Breweries Plc-the foremost brewing company in Nigeria, has proposed for Shareholders’ approval, the Share for Cash Dividend Election Scheme ; a scheme that will allow shareholders convert final cash dividends to new ordinary shares.
A statement issued by the management of the company through an explanatory note revealed that the scheme would give interested shareholders the option to elect or a right of election to receive ordinary shares in the company instead of a final cash dividend of N1.20k each per ordinary share of 50k each.
The statement further stated that part of the final proposed dividend of ₦9.69billion at ₦1.20k per share, which is meant to be paid to shareholders upon approval on 25 April 2022, will be converted to ordinary shares.
Qualifying shareholders are those who have their names in the Company’s Register of Members at the close of business on March 9th, 2022. To participate in the Share for Cash Dividend Election Scheme, qualifying shareholders who intend to make an election for shares must complete an election form and return the same to the First Registrar and Investor Services Limited on or before 12th April 2022.
The form can be obtained manually from the office of the Registrar (www.firstregistrarsnigeria.com) or on the investor relations page of the company’s website(www.nbplc.com).The election form will be equally be sent to qualifying shareholders alongside the 2021 Annual Report and Accounts. The shareholders are expected to scan and send (using their personal email address) the completed election forms to the Registrar‘s email address-(firstname.lastname@example.org).
The default option will remain cash for Final Dividend, therefore qualifying shareholders who do not wish to covert their final dividends into additional shares do not need to fill or submit the election form. Such shareholders will automatically receive cash on Friday 22nd, April 2022.
A member of the HEINEKEN Group, Nigerian Breweries Plc is Nigeria’s pioneer and largest brewing company. Incorporated in 1946 as “Nigerian Brewery Limited, ”the company made history in June 1949 when the first bottle of STAR lager beer rolled out of its Lagos brewery bottling line. Today, it has a rich portfolio of 19 high-quality brands (such as Heineken, Desperados, Maltina, Life, Amstel Malta, Gulder, Fayrouz, and Legend) produced from 9 breweries and two malting plants which are distributed nationwide.
Nigerian Breweries is also a recipient of several awards and recognition in other operations, including product quality, marketing excellence, productivity and innovation, health and safety, corporate social responsibility, and sustainability.