The shareholders of Guinness Nigeria Plc yesterday approved N15.64billion dividend for the financial year ended June 30, 2022.
Shareholders at the 72th Annual General Meeting (AGM) of the Company held in Lagos commenced the management for overcoming post-covid-19 challenges to post 2022 impressive performance.
Speaking at the AGM, one of the shareholders, the National Coordinator, Aba Shareholders Association, Hon. Bright Nwabughogu said that the shareholders are glad and appreciates the management for managing the company to profitability, while he acknowledged that Guinness Nigeria remains the best brewery in Nigeria.
“I want to congratulate Guinness Nigeria for pretty job well done. The payment of the dividends is impressive, we urge them to keep doing pretty well and make more shareholders buy the shares. We pray that they pay higher dividends next year”, Hon. Nwabughogu noted.
The Company’s revenue for the year under review grew by 29per cent to N206.8billion from N160billion, while the PAT grew by 1147per cent from N1.26bililon in 2021 to N15.65 billion in 2022.
Speaking at the meeting, Chair of the Board of Directors, Guinness Nigeria
, Dr. Omobola Johnson, stated that commitment to the company’s expansion strategy and improved operational efficiency has helped to sustain the growth.
“We are pleased that our thorough and effective strategy is assisting us in achieving our goals. We have made strategic investments, and we will keep doing so to make sure this leads to more growth. Despite the difficult business environment, Guinness Nigeria has consistently worked to remain competitive. We will work at maintaining the remarkable trajectory that we have now because we value the confidence and trust that our distinguished shareholders have placed in us,” Johnson said.
She added that “Guinness Nigeria remains the only Total Beverage Alcohol Company in Nigeria. We are glad that we are fulfilling our promises of sustainably conducting our business to satisfy our customers and drive better returns on investment for our shareholders. The Board will continue to support the Management’s efforts to sustain global best practices to keep our flag flying”.
Managing Director, Guinness Nigeria, Baker Magunda, also expressed confidence that the company will continue to brace up on its path of sustained profitability.
“This performance showed that the business will continue to deliver growth despite the challenging environment characterized by high inflation and logistics bottlenecks in the country. We will continue to leverage local opportunities and create value and empowerment through our backward integration programme that is currently benefiting hundreds of people across the country” Baker said.