National Wire About Nigerians, Nigerian Business and Other Stories
Guinness Nigerian Plc has proposed a dividend of 64 kobo for the financial year ended June 30, 2017. The corporate action was up by 28.00 percent which is above 50 kobo that was declared same period in 2016.
The audited result is coming few days after the company ended its right issue, which the outcome is still been awaited by the existing investors. According to the financial statement that was released to the Nigerian Stock Exchange (NSE) on Tuesday September 5, 2017, closure date for the dividend is September 29, 2017.
While payment date is October 26, 2017, the company Annual General Meeting has been scheduled for October 25, 2017. Other details of the audited financial statement shows that revenue went up by 23.48 percent from N101,973,03 billion in 2016 to N125,919,82 billion in 2017.
The company moved from a loss before tax position of N2,347,24 billion in 2016 to profit of N2,662,08 billion in 2017 still in negative percentage of -213.41 percent. Profit after tax stood at N1,923,72 billion above loss after tax of N2,015.89 billion that was recorded same period in 2016, with -195.43 percentage difference from last year figure.
However finance cost went up by 23.02 percent to N9,777,63 million above N7,948,01 million that was paid to banks in 2016. Marketing and distribution expenses was up by 1.61 percent from N24,886,62 million in 2016 to N25,286,66 million in the period under consideration.
