Business & Economy

Beta Glass Company declares final dividend of 1.67 NGN per share

Beta Glass Company has declared a dividend. The Nigerian bottle maker reiterated its commitment to ensuring the timely completion of an ongoing furnace capacity expansion at its Guinea plant in Agbara. The project, which is costing the company the sum of $30 million, is expected to be ready by June this year.

Beta Glass Plc was incorporated in 1974 and listed on the NSE in 1986. Its business model entails the production and sale of glassware such as bottles for wine, soda, hard liquor, glass containers for cosmetics and pharmaceuticals.

The following are the details related to the dividend:

Financial period FY 31/12/2019
Ex-Dividend date 15/06/2020
Record date 11/06/2020
Payment date 03/07/2020
Dividend amount per share 1.67 NGN

The company is headquartered in Lagos but has production plants in the Agbara industrial hub of Ogun State, as well as Ughelli in Delta State.

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According to the Nigerian Stock Exchange (NSE), Beta Glass Plc has a market capitalisation of N34.1 billion.

Beta Glass Plc is a subsidiary of Frigoglass Industries Nigeria Limited, which holds a 61.9% stake in Beta. Frigoglass is itself a subsidiary of the Greek company, Frigoglass S.A.I.C, which is a major player in the global Ice Cold Merchandisers (ICM) market. Consequently, it is the Athens-based Frigoglass S.A.I.C that owns the controlling share in Nigeria’s Beta Glass Plc.

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