Nigerian Breweries (NB) Plc has listed 145.1 million additional shares after many shareholders opted to convert their cash dividends to ordinary shares in the company.
The additional shares totaling 145.1 million arose from 2021 scrip dividend election scheme of the company.
With the additional shares, the total issued and fully paid up shares of Nigerian Breweries has now increased from 8.08 billion to 8.221 billon ordinary shares of 50 kobo each.
The board of Nigerian Breweries had recommended an option for qualifying shareholders to receive new ordinary shares in the company instead of the cash final dividend, on terms and conditions as the board may determine based on prevailing market conditions.
Shareholders subsequently voted for the cash-for-share dividend option at the company’s Annual General Meeting in May 2017 and has been running since.
Credit: thenationonlineng.net
