MD of Guinness Ghana, Gavin Pike (left), Board Chairman, Dr. Felix Addo (middle) and Suzanne Glenda Butah, Company Secretary at the AGM
GUINNESS GHANA Breweries has declared dividend to its shareholders at the company’s 47th Annual General Meeting in Kumasi.
The financial year under review delivered nine million Ghana Cedis in dividends, which translated into a dividend payout of GH¢0.0293 per share.
This is the second time in a row Guinness Ghana is paying dividends to shareholders after 6 six years.
Board Chairman of Guinness Ghana, Dr. Felix Addo, said the company had another positive performance.
“Bottom line growth was challenged by the significant Ghana Cedi devaluation, VAT regulation change which increased our entire 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 gain the company has made 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 socioeconomic impact across the country showed that the company is working directly with 30,000 farmers, and was impacting over 200,000 livelihoods particularly within the communities in which it sources local raw materials.
He added that beneficiary communities where Guinness Ghana sources its local raw materials according to the study have seen significant improvements in their livelihoods in areas such as investments in children’s education, housing, water, sanitation, healthcare and nutrition.This, coupled with its shareholder value creation, positions Guinness Ghana on a sustainable growth trajectory.