Nigerian Breweries heads to A’Court over N169m haulage fees judgment

Nigerian Breweries heads to A’Court over N169m haulage fees judgment

Nigerian Breweries heads to A’Court over N169m haulage fees judgment   Nigerian Breweries Plc said it has proceeded to appeal an earlier judgment by an Ondo State High Court ruling that it pays the sum of N169 million haulage fees to Ondo State Government. Uaboi Agbebak, the Company Secretary, confirmed in a statement that an Ondo State High Court sitting in Akure on January 27, 2021 gave a judgment against the Company and in favour of the Ondo State Government in respect of haulage fees assessed at N169 million. In…

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Ecobank, NB, Zenith Bank lead in N38bn loss as equities open week

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Trading in the Nigerian equities market closed in the red on Monday as following 8.5 per cent sell-offs in the stocks of Ecobank (ETI), 1.8 per cent in Nigerian Breweries (NB) and 1.0 per cent decline in Zenith Bank. Thus, the benchmark index which tracks share price movement at the Nigeria Stock Exchange (NSE) declined by 0.2 per cent as it shed 63.63 points to 35,064.36 basis points; while market capitalization shed N38 billion to close the week’s opening session at N18.327 trillion. Consequently, Month-to-Date (MtD) and Year-to-Date (YtD) gains…

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Nigerian Breweries offers shareholders N1.9bn interim dividend

Nigerian Breweries heads to A’Court over N169m haulage fees judgment

The board of Nigerian Breweries Plc has recommended an interim dividend of N1.9 billion with a payout of 25 kobo per share, from its N7.05 billion net profit reported at the end of its operations for the nine-month ended September 30, 2020. The interim dividend is payable on Tuesday, December 1, 2020 to all shareholders registered in the books of the company as of Friday, November 20, 2020 According to the unaudited results filed at The Nigerian Stock Exchange (NSE), net revenue was flat at N234 billion, compared to the…

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Heineken B.V Raises Stake In NB, Acquires 7.241m Shares

Nigerian Breweries heads to A’Court over N169m haulage fees judgment

In what may be a seeming vote of confidence in the nation’s economy, the Nigerian Stock Exchange (NSE) was on Monday informed of the purchase of 7,241,451 units of Nigerian Breweries Plc by Heineken Brouweijen B.V, its parent company, and substantial (foreign) shareholder. There is however a divergence of opinion concerning the purchases that would see Heineken raising its stake in the company above the 3,019,363,804 units representing 37.76% holding as of December 31, 2019. Other majority shareholders as of that date are Distilled Trading International B.V, 1,237,500,160 shares, or…

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Nigerian Breweries pays N16.1bn annual dividend to shareholders

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Shareholders of Nigerian Breweries Plc have approved a total dividend of N16.1 billion for the year ended December 31, 2019 at the rate of N2.01 per share. This followed approval of the proposed dividend by the shareholders of the company at the its 74th Annual General Meeting (AGM) in Lagos recently. The Chairman of the company, Chief Kola Jamodu, said the company had earlier paid an interim dividend of N3.99 billion, translating to 50 kobo per share, in December 2019. He said the final dividend of N12.1 billion, translating to…

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