Guinness Nigeria Plc will resume dividends in 2026 after a two-year pause.
Earlier, the brewer faced heavy losses from currency devaluation and soaring inflation following 2023 government market reforms.
As a result, retained earnings fell into negative territory, forcing management to halt dividend payments temporarily.
Dividend Comeback
However, analysts at Lagos-based consultancy CardinalStone predict that retained earnings will return to positive territory by FY 2026.
Meanwhile, management has not given formal guidance, but analysts expect a cautious 50% payout ratio.
They project retained earnings to reach ₦33.9 billion, which can support an estimated dividend per share of ₦8.7.
Guinness Post Financial Recovery
Over the 15 months to September 2025, Guinness posted a net income of ₦26.28 billion, signalling a strong rebound.
Read Also: Eko Atlantic Tops Lagos Luxury Market With 59.5%
Consequently, profitability improved, with net margin rising to 4.42% and Return on Assets increasing to 10.69%.
Additionally, Return on Equity surged dramatically to 924%, highlighting the company’s impressive financial recovery.
Total revenue grew to ₦594.68 billion, driven by both domestic and export sales during the period.
Specifically, domestic sales climbed to ₦585.65 billion while exports increased to ₦9.02 billion, more than doubling from 2024.
Growth Drivers
Furthermore, analysts expect margins to rise in the final quarter of 2025, aided by festive-season volume growth and market expansion.
They also cite lower sorghum costs, down 25.9%, and a 10% stronger naira as key factors.
Overall, Guinness’s rebound demonstrates resilience, signalling financial stability, profitability, and the likely return of shareholder rewards.
Ultimately, the brewer’s journey from economic hardship to recovery underscores its ability to navigate challenging market conditions successfully.
