Bralirwa Owners in Low Spirits
East African Business Week
- 5 hours ago
Kigali -- Shareholders of Rwanda's largest brewer, Bralirwa, may not
smiling as much as last year with the firm offering a lower dividend
payout.
The Rwanda Stock Exchange listed firm recorded a 0.6 per cent drop in
production sales volumes last year to 1.65 million hectoliters from
1.66m hectoliters in 2012, according to a recent press statement from
it.
While export sales also went down by 29%, mainly due to heavy taxes
charged at the border of Democratic Republic of Congo, its largest
export market.
To that, the firm underwent an 18.8% decline in after tax profit from
Rwf 19bn recorded in 2012 to Rwf 15.46 billion last year.
The company's stocks have been rallying at the bourse though,
appreciating by 533 per cent to Rwf 861 at the close of businesson
Wednesday compared to Rwf 136 at its Initial Public Offering two years
ago.
Jonathan Hall, managing director of the beverages manufacturer known
for branded soft drinks like Coca cola and beer brands like Primus,
Mutzig, Amstel, Turbo King and Heineken, said the Rwf 15 per share
dividend payout for shareholders which is 25 per cent less than that
issued last year, was yet to be approved pending the annual general
shareholders meeting to be held next month.
"The proposed dividend, if approved will be paid on 24, June 2014," he said.
Hall said they were also going to propose to the shareholders during
the meeting to consider directors' recommendation to increase the
share capital from Rwf 514.3 million to Rwf 5.14bn through the
incorporation of Rwf 4.63 billion from retained earnings.
"This will be done by increasing the par value of the company's shares
from Rwf 1 to Rwf 5 per share," he said.
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