Nigeria Brewery offers shares for dividends option to shareholders

Following the impressive results released for the financial year ended December 31st, 2021, Nigerian Breweries Plc, has proposed for Shareholders’ approval, the Share for Cash Dividend Election Scheme; a scheme that will allow shareholders to convert final cash dividends to new ordinary shares.

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 brewery company, therefore, noted that part of the final proposed dividend of N9.69billion 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”, it explained.