Nigerian Breweries offers ‘shares for dividends’ option to shareholders
Ahead of its 76th Annual General Meeting and 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 convert final cash dividends to new ordinary shares.
A statement issued by 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 statement further stated that part of the final proposed dividend of N9.69billion at N1.20k 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 ElectionScheme, 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.
The election form will equally be sent to qualifying shareholders alongside the 2021 Annual Report and Accounts.
The default option will remain cash for Final Dividend, therefore qualifying shareholders who do not wish to covert their final dividends into additional shares do not need to fill or submit the election form.
Such shareholders will automatically receive cash on Friday 22nd, April 2022.
