• Privacy Policy
  • Terms
  • About us
  • Contact Us
Tuesday, July 5, 2022
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Special News
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Special News
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Business

Nigerian Breweries allots 78m shares

Breweries

The Matters Press by The Matters Press
January 26, 2022
Reading Time: 2 mins read
0
Nigerian Breweries allots 78m shares


Nigerian Breweries (NB) Plc has allotted and listed a total of 78.93 million ordinary shares of 50 kobo each to shareholders of the company who elected to convert their cash dividends to ordinary shares.

RELATED POSTS

DMO lists 2 Nigeria’s savings bonds for subscription

Naira falls to dollar at Investors and Exporters window

Scraping, abandoning Ajaokuta steel coy will be a waste — DG

The listing of the new shares on the Nigerian Exchange (NGX) increased the total issued and fully paid up shares of Nigerian Breweries from 7.997 billion to 8.076 billion ordinary shares of 50 kobo each.

The board of directors of NB had recommended the adoption of a dividend conversion option under which shareholders can exchange their cash dividends for ordinary shares of the brewing company.

ALSO READ  ADF invests $45bn in 40 countries - AfDB

The directors of the company then sought shareholders’ approval for the implementation of the conversion scheme, which applied to the cash dividend for the 2020 business year.

According to the resolutions, shareholders authorised that “shareholders entitled to receive cash dividends in respect of the financial year ended December 31, 2020, be offered a right of election to receive ordinary shares in the company instead of cash dividends, and that such new ordinary shares be credited as fully paid, which, when issued, shall rank pari-passu in all respects with the company’s existing ordinary shares”.

Shareholders authorised the directors “to allot to shareholders who elected to receive ordinary shares in the company in lieu of cash dividends, such number of new ordinary shares as shall be determined by the directors” in line with the reference conversion price and amount of cash dividend presented.

ALSO READ  Army buries 19 soldiers killed by Boko Haram

The board of directors of NB had earmarked the entire net profit of N7.5 billion recorded in 2020 for payout to shareholders as cash dividends for the business year.

The company paid a final dividend of N5.52 billion in addition to an interim dividend of N1.999 billion earlier paid during the business year. With these, shareholders received a final dividend per share of 69 kobo in addition to 25 kobo earlier paid during the year, bringing the total dividend per share to 94 kobo.

Source

Tags: Breweries
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Nigeria floats $4bn Eurobonds
Economy

DMO lists 2 Nigeria’s savings bonds for subscription

July 5, 2022
“Naira-4-Dollar” getting results
Business

Naira falls to dollar at Investors and Exporters window

July 5, 2022
Firms bid for Ajaokuta steel
Business

Scraping, abandoning Ajaokuta steel coy will be a waste — DG

July 5, 2022
Trading in Nigerian stock market dips further N83bn
Business

Stock market records losses, capitalisation down by N20bn

July 5, 2022
Nigeria loses $25b to foreign ship owners
Economy

NPA expects 29 ships with products at Lagos ports

July 5, 2022
Africa-Europe Alliance presents progress report
Business

Africa needs to develop vibrant, resilient PPP framework – SGF

July 5, 2022
Next Post
Investment in refinery driven by innovation — Dangote

Dangote retains position as richest African

Nigeria’s N17.1trn budget to gets presidential accent on Friday

FEC approves 2022 Appropriation Amendment Bill for transmission to NASS

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

Nigeria confirms oil leak, theft

Nigeria confirms oil leak, theft

April 19, 2022
Nigeria has not taken decision yet on fuel subsidy

Subsidy may hit N5tln

March 9, 2022
Eswatini for $140m Afreximbank’s credit

Afreximbank records $217m net income

November 17, 2020

Popular Stories

  • 79 candidates for presidential election

    INEC wants to make you rich, bid for new jobs

    0 shares
    Share 0 Tweet 0
  • Universities approved to operate distance learning centres

    0 shares
    Share 0 Tweet 0
  • Highest score in Common entrance, NECO unveils placement policy

    0 shares
    Share 0 Tweet 0
  • IMF’s reasons for Nigeria’s economic recovery

    0 shares
    Share 0 Tweet 0
  • Missing fighter jet found dead

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • DMO lists 2 Nigeria’s savings bonds for subscription
  • Naira falls to dollar at Investors and Exporters window
  • Scraping, abandoning Ajaokuta steel coy will be a waste — DG

Categories

  • Agriculture
  • Business
  • Economy
  • Entertainment, Religion
  • Features
  • Foreign
  • Health
  • Multimedia
  • Natural Resources
  • News
  • Opinion
  • Photo
  • Politics
  • Security
  • Special News
  • Sports
  • Technology
  • Thematterspress
  • Uncategorized
  • Video

© 2022 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Special News
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2022 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?