{"id":35670,"date":"2019-10-29T10:14:16","date_gmt":"2019-10-29T09:14:16","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=35670"},"modified":"2019-10-29T10:14:16","modified_gmt":"2019-10-29T09:14:16","slug":"guinness-shareholders-approve-n3-32bn-dividend","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/guinness-shareholders-approve-n3-32bn-dividend\/","title":{"rendered":"Guinness Shareholders Approve N3.32bn Dividend"},"content":{"rendered":"

shareholders of Guinness Nigeria Plc have approved the payment of N3.32bn dividend declared by the company for the 2018 financial year.<\/p>\n

The approval was given at the company\u2019s 69th Annual General Meeting, which held in Abuja.<\/p>\n

Guinness had posted a N5.5bn profit after tax for the 2018 financial year and a revenue of N131.4bn.<\/p>\n

The company\u2019s operating profit for the year ended stood at N8.9bn.<\/p>\n

The Chairman, Board of Directors, Guinness, Mr Babatunde Savage, appreciated the continued support of the shareholders despite the prevailing economic challenges.<\/p>\n

Savage maintained that Guinness Nigeria would continue to define its operations along the line of sustainability and progressively rework its models in line with the current socio-economic realities.<\/p>\n

He explained that the company\u2019s performance indicated that it was consistently focused on delivering both top line growth and margin expansion while also increasing investment behind the brands.<\/p>\n

He said, \u201cGuinness Nigeria is determined to ensure sustained and steady growth in the company\u2019s operations to achieve improved returns on investments.\u201d<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

The Managing Director\/Chief Executive Officer, Guinness, Mr Baker Magunda, said although the brewing industry witnessed significant incursions from ambitious brands, Guinness Nigeria maintained its leading role in the industry.<\/p>\n

He said, \u201cGuinness Nigeria has remained profitable during the year under review as reflected in the financial results contained in the annual report published as part of this year\u2019s AGM.<\/p>\n

\u201cThe year under review witnessed the launch of three new products to expand the brand categories for profitability as the brands deliver impressive volumes; Baileys Delight, which was launched in January 2019, Guinness Gold launched in March and Orjin Herbal Gin launched in April.\u201d<\/p>\n

Magunda said as part of its social responsibility, Guinness Nigeria continued to contribute its quota to the socio-economic development of the country through various initiatives such as the Diageo Africa Water of Life Programme, which provided clean and portable water across communities to minimise cases of water borne disease, and the Guinness Eye Centre established to save sights of the vulnerable across communities.<\/p>\n

He said, \u201cWe have made deliberate choices in where we are putting our investments as a business \u2015 in our brands and in our people.<\/p>\n

\u201cWe are confident that these investments will yield dividends and improve shareholder return in the years to come.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

shareholders of Guinness Nigeria Plc have approved the payment of N3.32bn dividend declared by the company for the 2018 financial year.<\/p>\n","protected":false},"author":6,"featured_media":12625,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,1593,17,624],"tags":[1570,6346],"coauthors":[2391],"class_list":["post-35670","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-metro","category-news","category-politics","tag-guinness-nigeria","tag-mr-baker-magunda"],"yoast_head":"\nGuinness Shareholders Approve N3.32bn Dividend - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/guinness-shareholders-approve-n3-32bn-dividend\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Guinness Shareholders Approve N3.32bn Dividend - 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