Shareholders of Consolidated Breweries (CB) applauded decision by the company to discuss merger arrangement with the Nigeria Breweries (NB) Plc, saying that this would result in a bigger and growth of the company.
They also commended the management’s efforts at consistent payment of dividend over the years, urging them not to rest on their oars. Shareholders unanimously approved a total dividend of N917.73 million, representing N1.85 kobo per N0.50 kobo share held by those who are on the register of company as at April 17, 2014.
Addressing shareholders in Lagos, chairman of the company, Professor OyinOdutola-Olurin, at the company’s 34th annual general meeting, (AGM), disclosed that the company’s revenue increased from N33.5 billion to N33.9 billion.
She described 2013 as a truly eventful year, adding that the company achieved several milestones in its journey towards greatness.
Such achievements, according to her, include the expansion of the company’s production capacity, the successful merger of Benue Breweries Limited and DIL/Maltex (Nigeria), the introduction of a new ERP system which improved the controls in business.
She also hinted of the plan to use gas to power some of the equipment at the Ijebu Ode Brewery in an effort to drive down costs.
Managing Director of the company, Mr. BoudewijnHaarsma, noted that brewing a better future, Heineken’s long-term sustainability strategy has been integrated by Consolidated Breweries.
“We aim to create genuine shared value for all our stakeholders as sustainability is part of how we manage our business”, he said
