The leading total beverage manufacturing company in Ghana, Guinness Ghana Breweries PLC, has declared dividend to its shareholders after the company’s 47th Annual General Meeting in Kumasi.
The financial year under review delivered GH¢9million in dividend, which translates into a dividend payout of GH¢0.0293 per share that was approved by shareholders on Wednesday 13th November 2019.
This is the second time in a row Guinness Ghana is paying dividend to shareholders after six years.
The Board Chairman of Guinness Ghana, Dr. Felix Addo, said the company has had another positive performance, and the ambition to create the best-performing, most trusted and respected consumer products company in Ghana is on course.
“Bottom-line growth was challenged by the significant Ghana cedi devaluation, VAT regulation change which increased all our cost base by 5%, and broader commodity inflation. However, in the next financial year we hope to do even better. We have the right people and a clear strategy to deliver another impactful year,” he said.
The Board Chairman was proud of the gains made by the company with local raw material sourcing, which has seen Guinness Ghana increase its local raw materials usage from 12% in 2012 to 55% in 2019. He revealed that a 2019 study conducted by the Kwame Nkrumah University of Science and Technology (KNUST), into the company’s socio-economic impact across the country, showed that the company is working directly with 30,000 farmers and impacting over 200,000 livelihoods – particularly within the communities in which it sources local raw materials.
He added that beneficiary communities from where Guinness Ghana sources its local raw materials, according to the study, have seen significant improvements in their livelihoods in areas such as investment in children’s education; housing, water and sanitation; healthcare and nutrition. This, coupled with its shareholder value creation, positions Guinness Ghana on a sustainable growth trajectory.