EABL declares Sh4.50 special dividend

East African Breweries Chairman Charles Muchene

East African Breweries Ltd (EABL) has announced a special dividend of Sh4.50 per share to all EABL shareholders. The one-time dividend will be payable in addition to the interim dividend that was declared by the board for the half-year ended December 31, 2015.

Earlier in the year, EABL Board of Directors recommended an interim dividend of Sh2.00 per share up from Sh1.50 in 2014.

EABL Chairman Charles Muchene said “the Board considers it appropriate to distribute this dividend in recognition of additional income EABL received from the sale of its subsidiary, Central Glass Industries (CGI) Ltd.”

Muchene added that the sale was a result of a thorough strategic review, following the decision to exit the glass business in order to focus on our core business and unlock additional value for our shareholders.

To spur further growth in both beer and spirits, Diageo Africa President John O’Keeffe explained that plans are underway to introduce new brands that cater for the low-end consumers.

Speaking in Naivasha during EABL Board Trade Visit, Mr O’Keeffe said the new innovations will encourage consumers to shift from illicit brews.