Guinness Nigeria Returns to Profitability and Declares N2 Dividend
Guinness Nigeria Plc has made a significant return to profitability, resuming dividend payments as shareholders unanimously endorsed the company's leadership and long-term growth strategy at its 75th yearly general meeting held in Lagos on Wednesday. The company declared an interim dividend of N2 per ordinary share following the release of its first quarter 2026 financial results, signaling a renewed commitment to rewarding investors and reinforcing confidence in its financial recovery.
Financial Performance and Shareholder Approval
At the meeting, shareholders reviewed the firm's 18-month financial performance, which reflected a period of strategic transition and disciplined execution that culminated in a return to profit. The outcome underscores the company's efforts to build a more agile and resilient business in a challenging operating environment. All resolutions presented at the meeting were unanimously approved, including the election and re-election of directors as well as the appointment of Ernst and Young as independent external auditor effective January 1, 2026, reflecting sustained shareholder confidence in the company's governance and leadership.
Leadership Insights and Strategic Transformation
Chairman of the Board, Prof. Fabian Ajogwu, described the period as a defining phase in the company's history, marked by resilience, transformation, and renewed momentum. He noted that despite macroeconomic pressures, the company successfully navigated its transition and is now positioned for sustainable growth and value creation. Ajogwu highlighted that the company's 75th anniversary, attained in April 2025, represented a rare milestone among Nigerian businesses and coincides with its financial turnaround. He also pointed to the change in the company's financial year-end from June 30 to December 31 as part of its ongoing transformation.
Management Commitment and Future Outlook
Managing Director, Girish Sharma, said the company has delivered on its promise to shareholders by declaring a dividend within a year of his appointment, adding that management remains focused on execution and long-term growth. "My first AGM happened when I was less than a month old in Guinness Nigeria. We made a commitment that at the next AGM, we will declare a dividend. We have done that, and we have just started. The team understands the business, and the team knows what they need to do. I think we have absolute clarity in terms of where we want to go in the next five years. I think from here, it's only going to get better," he said.
Shareholder Optimism and Confidence
Shareholders expressed optimism about the company's outlook, commending its performance and expressing confidence in stronger returns. One shareholder, Adetutu Siyanbola, said the company is on a solid footing and moving in the right direction. "Next year, we are going to get a bigger and better final dividend added to the entire dividend that the chairman mentioned," she said, while also praising the quality of the board and management team. This positive sentiment reflects broader market confidence in Guinness Nigeria's strategic direction and financial health.
