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…
Read complete article: The East African