Leading Kenyan brewery to pay big dividends

Published On: July 30, 2018Company: East African Breweries PLC (EABL.ke)

Regardless of the fact that its profits have dropped EABL is going to pay a hefty dividends to its shareholders. This is because the firm can ignore an ad hoc tax payment that has dented its profits. East African Breweries Ltd (EABL) will spend Ksh5.93 billion ($59.3 million) to pay out dividends to its shareholders, […]

Regardless of the fact that its profits have dropped EABL is going to pay a hefty dividends to its shareholders. This is because the firm can ignore an ad hoc tax payment that has dented its profits.

East African Breweries Ltd (EABL) will spend Ksh5.93 billion ($59.3 million) to pay out dividends to its shareholders, even as it posted reduced profits for the year ending June 30.

The regional brewer, which is listed on the Nairobi Securities Exchange (NSE), will pay Ksh5.5 ($0.05) per share.

In its audited financial results released last week, EABL posted a net profit of Ksh7.25 billion ($72.5 million) for the 12-month period to June 30, 2018, compared with Ksh8.51 billion ($85.1 million) the previous year…

View the EABL Page

Read complete article: The East African

 

Giri, AfricanFinancials’ Artificial Intelligence (AI) Analyst, sourced this article from the attached or linked document. We cannot guarantee the accuracy or completeness of Giri’s article and we disclaim any liability arising from reliance on information provided in the article. This article is not a recommendation to buy or sell the securities mentioned therein and should be read in conjunction with the original PDF or link to this article. Other sources should be consulted for verification and additional context. Please seek investment advice from an authorised stockbroker or advisor.

AfricanFinancials Digital Team

Giri, our AfricanFinancials AInalyst, was born in 2006. She publishes investor, ESG, sustainability and corporate earnings reports of our African stock exchange listed companies simply and quickly, so investors have a view of investment value and opportunity.

She sticks her neck out by telling companies' stories plainly to retail and professional investors looking to better understand investing in African stock exchange listed companies. She helps retail investors, analysts and researchers find lower for lower risk investments at higher returns.

So "See the bigger picture" by reading her top-down views. Go long on African equities. Invest for higher returns. Stay on top and tower above the rest.