Guinness Nigeria profit jumps 53% to ₦40.7bn, declares ₦7/share dividend
Guinness Nigeria's profit after tax surged 53.1% to ₦40.7 billion for the nine months ended September 2026, up from ₦26.6 billion a year earlier. Third-quarter earnings contributed ₦15.4 billion (37.8% of the period). Revenue climbed 20.3% to ₦403.3 billion, with Nigeria accounting for 98% of sales at ₦397 billion. Operating profit rose 23.4% to ₦65 billion while finance costs plummeted 71.9% to ₦4.3 billion after debt reduction.
The company, now majority-owned by Singapore's Tolaram Group since its 2024 acquisition of Diageo's 58% stake, declared a ₦7.00 per share interim dividend for Q3—potentially ₦15.3 billion payable November 13 to shareholders on the register by October 30. This follows April's ₦2.00 per share Q1 dividend, ending a four-year payout pause.
Total assets grew to ₦271.5 billion from ₦245.2 billion, driven by inventory and property increases. With Diageo retaining the brand license long-term, the earnings rebound signals operational recovery under new ownership.
If you hold Guinness shares, the ₦7 dividend adds to April's ₦2—will you reinvest or take the cash? For market watchers, the 72% finance cost drop suggests deleveraging is working; does this make the stock more attractive at current prices?