Guinness Nigeria Recommences Dividend Payouts Following Nearly Four-Year Hiatus

Guinness Nigeria is set to re-emphasize shareholder value, a move bolstered by the financial recovery and strength seen under its new core investor, Tolaram, which acquired a significant stake nearly two years ago. The company, known for its stout, gin, spirits, vodka, and malt drinks, will distribute an interim dividend of N2 per share for the first quarter. This announcement, disclosed on Tuesday, signifies the first dividend payment since July 2022.

The declaration of this interim dividend coincides with the release of the company's quarterly financial results, which showed a 47.9% increase in net profit compared to the previous year. Despite this positive financial performance, Guinness Nigeria's share price saw a marginal increase of 0.04% by the close of trading on the Lagos Customs Street exchange.

The company had previously halted dividend payments in 2023 following a substantial loss after tax, amounting to N18.2 billion. This loss was largely attributed to a significant devaluation of the naira, which led to a dramatic 2,501.6% rise in finance costs during that year.

Guinness Nigeria continued to face financial headwinds in 2024, reporting a net loss that neared N54.8 billion, its largest on record. This also resulted in a sharp decline in its shareholder funds, which fell to N2.2 billion from N56.4 billion.

The situation began to improve following the acquisition of Diageo's 58% stake by the Singapore-based Tolaram Group, a major investor in Nigeria's Lekki Deep Sea Port. Although Tolaram now holds the controlling stake, Diageo remains involved through a long-term licensing agreement for the Guinness brand in Nigeria.

According to audited reports for the eighteen-month period ending December 31, 2025, Guinness Nigeria successfully returned to profitability, posting a post- tax profit of N41.2 billion. This turnaround was driven by a substantial 144% surge in revenue, reaching N730.8 billion. The financial year also saw a 47.9% increase in after-tax profit for the three months ending in March, totaling N10.4 billion, while revenue experienced a more modest growth of 3.7% to N122.8 billion.