Guinness Nigeria to pay shareholders N1.008bn final dividend on Oct. 20

… At the proposed 46kobo per share

Guinness Nigeria Plc has announced a final dividend of 46kobo per 50kobo ordinary share, subject to appropriate withholding tax and approval will be paid to shareholders whose names appear in the Register of Members as at the close of business on September 28, 2021.

The proposed final dividend

Guinness Nigeria Plc has 2,190,382,819 outstanding shares, which implies final dividend payout of about N1.008billion. The share price has price has remained stable at N30 per share.

There is no proposal by the Company for bonus payment. The brewer’s annual general meeting holds in Lagos on Tuesday October 19, 2021. At the meeting, the board of directors will among others seek shareholders’ approval to pay this final dividend. The Register of Shareholders will be closed from September 29, 2021 to October 4, 2021 while Qualification Date is September 28, 2021.

When to expect the dividend

On October 20, 2021, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at September 28, 2021, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts, Guinness Nigeria Plc said in its recent corporate actions announcement signed by Rotimi Odusola, Company Secretary.

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Substantial shareholders

On the company’s substantial shareholders, the Register of Members shows that the following Shareholders held more than 5percent interest in the Company: Guinness Overseas Limited (a subsidiary of Diageo plc) with 1,099,230,804 ordinary shares (2020: 1,099,230,804 ordinary shares) constituting 50.18percent shareholding (2020: 50.18percent shareholding); Atalantaf Limited (a subsidiary of Diageo plc) with 171,712,564 ordinary shares (2020: 171,712,564 ordinary shares) constituting 7.84percent shareholding (2020: 7.84percent shareholding); Stanbic IBTC Nominees Limited with 119,250,813 ordinary shares (2020: 147,181,975 ordinary shares) constituting 5.44percent shareholding (2020: 6.71percent shareholding); and Mutima Opportunity Fund with 112,502,111 ordinary shares (2020:- ordinary shares) constituting 5.14percent shareholding.

Financial scorecards

In its Financial Statements for the year ended June 30, 2021, Guinness Nigeria Plc revenue grew by 54percent to N160.416billion from N104.376billion in 2020. Operating profit of N9.871billion as against operating loss of N12.832billion in 2020 represents an increase by 177percent.

Its profit before taxation in 2021 stood at N5.769billion as against Loss Before Tax of N17.073billion in 2020. Profit for the year at N1.255billion as against 2020 loss of N12.578billion implies an increase of 110percent in 2020.

Guinness Nigeria Plc, a public limited liability company quoted on the Nigerian Exchange Limited was incorporated April 29, 1950 as a trading company importing Guinness Stout from Dublin.

A transformed Guinness Nigeria Plc

The Company has since transformed into a manufacturing operation and its principal activities continue to be brewing, packaging, marketing and selling of Guinness Foreign Extra Stout, Guinness Smooth, Malta Guinness, Guinness Gold, Harp Lager, Smirnoff Ice, Satzenbrau Lager, Dubic Malt, Snapp, Orijin Spirit Mixed Drink, Orijin Bitters, Smirnoff Ice Double Black with Guarana, Orijin Zero and Orijin Herbal Gin, Baileys Delight, Gordons Moringa among others.

Following the approval of the Board of Directors, Guinness Nigeria Plc acquired the rights to import, market, distribute and sell in Nigeria the International Premium Spirit brands of Diageo plc, its parent company with effect from January 1, 2016.

The Company now has exclusive distribution rights to Diageo’s iconic brands in Nigeria including Baileys, Smirnoff, Gordons, Captain Morgan, Tanqueray, Ciroc and the Johnnie Walker range. Guinness Nigeria Plc installed Polyethylene terephthalate (PET) production lines and commenced production and sale of products in PET format in the 2018 financial year. The Company currently produces Malta Guinness, Orijin Zero and Dubic Malt in PET formats and also has PET formats for its Baileys Delight, Orijin Bitters and Orijin Herbal Gin.

Guinness Nigeria Plc also acquired the right to manufacture locally some of the most successful mainstream spirits brands in Nigeria that are part of Diageo brands including Baileys Delight, Smirnoff Vodka with Chocolate and Gordons Gin with Moringa. Guinness Nigeria’s relationship with Diageo has also enabled the company acquire the right to import, market, sell as well as the right to produce locally the world famous McDowell’s whiskey and Royal Challenge whiskey in Nigeria.

This exciting diverse portfolio of fantastic brands makes Guinness Nigeria Plc the only Total Beverage Alcohol (TBA) business in Nigeria with the experience and unique capacity to cater for the needs of all consumer tastes and segments while delivering great value to its shareholders.

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